Biocon records PAT of Rs 239 crore in Q4 FY22

29 Apr 2022 , 10:12 AM

On the segmental front, revenue from Generics was Rs 717 crore (up 26% YoY), Biosimilars revenue was Rs 982 crore (up 48% YoY), Novel Biologics revenue was Rs 12 crore (up 17% YoY) and revenue from Research services was Rs 758 crore (up 15% YoY).

Gross R&D spend during the quarter increased by 70% YoY to Rs 232 crore.

EBITDA rose by 3% to Rs 659 crore in Q4 FY22 from Rs 641 crore in Q4 FY21. EBITDA margins were at 27% in Q4 FY22 as against 31% in Q4 FY21.

Profit before tax in Q4 FY22 stood at Rs 342.5 crore, down by 6% from Rs 365.8 crore in Q4 FY21.

Biocon recorded 12% fall in consolidated net profit to Rs 648 crore on a 15% rise in revenue from operations to Rs 8,184 crore in FY22 over FY21.

The company said that Naina Lal Kidwai, an accomplished banker and business leader, has been appointed as additional director on the board of Biocon, with effect from April 28, 2022 for a period of three years till the conclusion of 47th AGM to be held in 2025.

The companys board has recommended a final dividend of Re 0.50 per equity share for the financial year ended March 31, 2022.

Commenting on the results, Kiran Mazumdar-Shaw, executive chairperson, Biocon and Biocon Biologics, said: FY22 was a transformational year for Biocon. Key strategic moves in our Biosimilars business position us for long-term growth and value creation for our stakeholders.

We believe that the two strategic transactions, with Viatris and Serum Institute Life Sciences, will position Biocon Biologics as a world-leading, unique, fully integrated biologics company with a strong differentiated portfolio of biosimilars and vaccines.?

Biocon is a global biopharmaceutical company committed to enhancing affordable access to complex therapies for chronic conditions like diabetes, cancer, and autoimmune.

The scrip shed 0.40% to currently trade at Rs 375 on the BSE.

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