An employee in protective clothing uses an interface inside the research and development center at the Biocon Ltd. campus in Bengaluru, India. (Photographer: Dhiraj Singh/Bloomberg)  

Q3 Results: Biologics Business Lifts Biocon’s Upbeat Quarter 

Biocon Ltd. profit more than doubled in the December-ended quarter as the company forecast an upside to its biologics business.

“This is 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.

Also read: Biocon Says Won’t Play The Bloodbath Game In Indian Market For Now

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.

Watch the full interaction here: