Biocon posts Rs 257 crore profit for Q4 on strong biosimilar business
ANI |
Updated: Apr 29, 2021 12:58 IST
Bengaluru (Karnataka) [India], April 29 (ANI): Biopharmaceuticals major Biocon Ltd on Thursday reported net profit of Rs 257 crore in the fourth quarter of FY21, up 95 per cent from Rs 132 crore in Q4 FY20.
The was largely driven by biosimilars, research services and generics businesses. The company's Q4 FY21 consolidated revenue grew 26 per cent to Rs 2,044 crore from Rs 1,621 crore in Q4 FY20.
Earnings before interest, taxes, depreciation and amortisation (EBITDA) was Rs 641 crore versus Rs 382 crore in the same period.
Biocon gained Rs 160 crore arising on fair valuation of Bicara Therapeutics Inc due to loss of control from subsidiary to associate reported under 'other income' for the quarter.