Biocon, India’s biggest biotechnology company, on Friday posted a 13% year-on-year increase in consolidated net profit for the quarter ended September on the back of growth across its biopharmaceuticals and contract research businesses. The company reported net profit of Rs 102 crore, against R90 crore in the year-ago period.
Biocon’s consolidated revenue grew 17% during the quarter to R753 crore, from R642 crore last year. The company’s Ebitda was at R188 crore with the Ebitda margin at 25%.
On a sequential basis, Biocon’s net profit grew 8.51% while revenue increased by 4.14%. “Our biopharmaceuticals business has grown significantly on the back of immuno-supp- ressants and insulins, which is gaining a lot of traction in the emerging markets,” Biocon CMD Kiran Mazumdar-Shaw said. The biopharmaceuticals business grew 20% year-on-year to contribute revenue of R447 crore this quarter while revenues from the India-focussed branded formulations posted a muted growth of 9% at R99 crore.
“The last two quarters have been challenging for the entire Indian pharma sector because of various drug regulatory issues related to drug price control and trade issues,” she said. “We have kept up largely because we had differentiated drugs.”