The company reported Rs 313 crore net profit during the corresponding quarter of the previous year.
Total revenue grew 1% YoY to Rs 3,966 crore.
EBITDA for the quarter declined 16% YoY to Rs 964 crore, representing an EBITDA margin of 24% versus 29% in the same period last year. The gross R&D spends declined 36% YoY to Rs 228 crore in Q4FY24.
Biosimilar business (Biocon Biologics) that constitutes 58% rose 12% YoY to Rs 2.358 crore driven by the consolidation of the acquired biosimilar business of Viatris and robust growth in the core business across advanced and emerging markets.Generics and API business dropped 3% YoY to Rs 719 crore. Research services business declined 8% to Rs 917 crore.“Increased market shares of key products in the US, Europe and emerging markets coupled with significant volume growth were the highlights of the Biosimilars business this quarter,” said Kiran Mazumdar-Shaw, chairperson, Biocon and Biocon Biologics.“The Biocon Group has strengthened business operations, expanded global reach and is now increasingly well positioned to deliver a new phase of growth spanning Biosimilars, GLP-1 peptides and CDMO services,” Mazumdar-Shaw added.
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