Biocon Q4 net up 64 pc to Rs 213.7 cr

Biotechnology major Biocon Thursday reported a 64 per cent jump in consolidated net profit to Rs 213.7 crore for the fourth quarter ended March 2019, mainly on account of robust growth in biologics and research services segments.

The company had posted a net profit of Rs 130.4 crore for the corresponding period of the previous fiscal, Biocon said in a filing to BSE.

Consolidated total income of the company rose to Rs 1,557 crore for the March quarter. It was Rs 1,237 crore for the same period a year ago.

Biocon Chairperson and MD Kiran Mazumdar-Shaw said: "Our Q4 FY19 performance was led by robust growth in our biologics and research services business segments, supported by a significant growth in the small molecules business." For the fiscal year ended March 2019, the company's net profit grew over two-fold to Rs 905.3 crore as against Rs 372.4 crore earlier.

Consolidated total income for the last fiscal year stood at Rs 5,658.8 crore. It was Rs 4,335.9 crore in the previous financial year.

"On an annual basis, our revenue grew 31 per cent to Rs 5,659 crore, and net profit soared 143 per cent to Rs 905 crore," she added.

FY19 was a landmark year for the biologics business, which reported a growth of 97 per cent, thus emerging as a key driver for Biocon's incremental growth, Mazumdar-Shaw said.

"Our three strategic business segments - small molecules, biologics and research services have reported a top-tine of over Rs 1,500 crore each this fiscal," 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 said.

Biocon also said its board has approved issue of bonus shares in the proportion of 1:1, that is one bonus equity share of Rs 5 each for every one fully paid-up equity share held as on record date.

The board has proposed a final dividend of Re 1 per equity share on a pre-bonus share basis, it added.

Shares of Biocon closed at Rs 620.10 per scrip on BSE, up 1.06 per cent from its previous close.

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