Biocon Q4 profit up 64 percent at Rs 214 crore
Bengaluru: Biotechnology major, Biocon Ltd recently announced its consolidated financial results for the fourth quarter and fiscal year ended March 31st, 2019. Led by Kiran Mazumdar Shaw, the firm posted a growth of 64 per cent in the net profit at Rs 213.7 crore compared to last year's Rs 130.4 crore during the same period.
The company had posted a net profit of Rs 130.4 crore for the corresponding period of the previous fiscal, Biocon said in a BSE filing.
The company's consolidated revenue from operations stood at Rs 1,528.8 crore for the quarter ended March this year. It was at Rs 1,169.5 crore for the same period a year ago.
"On an annual basis, our Revenue grew 31% to Rs 5,659 Crore, and Net Profit soared 143% to Rs 905 Crore. FY19 was a landmark year for the Biologics business, which reported a growth of 97%, thus emerging as a key driver for Biocon's incremental growth. Our three strategic business segments Small Molecules, Biologics and Research Services have reported a top-line of over Rs 1,500 Crore each this fiscal. A higher share of Biologics revenue boosted profitability as reflected in the consolidated EBITDA margin of 27% for the full year despite a 34% increase in Net R&D expenses," she added.
"Looking ahead in FY20, we expect to sustain the growth momentum across our business segments led by biosimilars. We expect to sustain core EBITDA margins despite higher R&D investments to fuel our future growth," she further added.