Biocon Ltd. profit more than doubled in the December-ended quarter as the company forecast an upside to its biologics business.
“This is certainly...an inflection point in our biologics business,” Chairman and Managing Director Kiran Mazumdar Shaw told BloombergQuint in a post-earnings conversation. “We will see sustained momentum (in biologics business) going forward largely because it's high margin from product-supply and profit-share point of view.”
The Bengaluru-based biopharmaceutical company's branded formulations segment registered high growth due to channeled stocking of products in UAE market, Shaw said, adding it would taper down to a “realistic” mid-teen percent in the future.
Result Highlights (YoY):
- Revenue rose 45.6 percent to Rs 1540.8 crore.
- Net profit more than doubled to Rs 217.2 crore, from Rs 91.9 crore.
- Ebitda surged 71.7 percent to Rs 380.7 crore.
- Margin rose to 24.7 percent from 21 percent.
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