Biocon’s Net Profit Rises For The First Time In Five Quarters
Biocon Ltd.'s net profit rose for the first time in five quarters led by strong growth in its biologics and research services businesses.
The Bengaluru-based biopharmaceutical company's net profit increased 2.27 percent year-on-year to Rs 130.4 crore for the quarter ended March, it said in a stock exchange filing. The bottom line was aided by the biologics and research services businesses grew 47 percent and 45 percent, respectively. Revenue grew 25.6 percent to Rs 1,169.5 crore.
The traditional small molecules and branded formulations businesses also turned in a positive performance this quarter, Biocon Chairperson and Managing Director Kiran Mazumdar-Shaw said in the press release accompanying the earnings filing.
When it comes to small molecules, generics continue to face pricing pressure, Shaw told BloombergQuint. “But we are still confident that we should be able to deliver modest single-digit growth in FY19,” she added.
Other Highlights
- Earnings before interest, tax, depreciation and amortisation rose 24 percent to Rs 232.5 crore
- Operating margins contracted to 19.9 percent from 20.3 in the same quarter last year.
- Finance costs rose threefold to Rs 17 crore.
- Gross R&D expenses for the quarter stood at Rs 98 crore
- Net R&D expenses for the quarter stood at at Rs 51 crore
-
Signature Play: The Classic Cocktail Is Dead. Or Is It?
Classic cocktails are disappearing from India's cocktail menus. But they're still being ordered, taught to bartenders and borrowed from. So, who's really having the last drink?
-
A New Samvat Wishlist: Inclusive Prosperity And Human Development
India has strengthened its economic foundations through infrastructure, digital access and enterprise. Its next growth chapter must deepen productivity, create better livelihoods and widen participation in prosperity.
-
Love, Sex Aur Dhokha: The Audacious Plot To Spy On Jensen Huang
A Taipei dinner, a Singapore chip buyer and a suspected Chinese asset: inside the alleged spy operation that got close to NVIDIA's Jensen Huang.
-
Ten Things I Learnt This Samvat
Patience can be a trap. Cheap stocks can stay cheap. Leverage can wipe you out. What did Samvat 2082 teach us? Niraj Shah writes on 10 lessons from the year gone by.
-
Talking Points This Week: Tech Nerves, FII Buying, And A Faraway Banking Shock
The global markets are not shining this Diwali. The exception in the large markets is, India.
-
Midterm Rally Lasted A Day. The Hard Reality Of A Divided US May Last Two Years | Opinion
Between a contested AI boom, a debt ceiling that arrives in 2027 and a president with every incentive to act alone, the next two years may prove more volatile than the first day's rally suggests.
-
Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era | Unhedged Position
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
-
It's Time To Take The GST Council's Bet On Trust Global
Payment records can prove India's services exports, and clear, proportionate rules can bring foreign digital sellers into the tax net.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
