Sen was appointed as the CFO of the company in April 2021 after Anupam Jindal stepped down. He has over 20 years of experience in financial planning, treasury, taxation and financial reporting.
Biocon posts profit of ₹254 crore for Q4
April 29, 2021
Performance driven by biosimilars, research services and generics businesses
Global biopharma company Biocon Limited has posted 106.50 per cent profit for the fourth quarter (Q4) of FY 2020-21 on a consolidated basis, at ₹254 crore as against ₹123 crore posted last year, driven by biosimilars, research services and generics businesses.
The company’s revenues are higher by 26 per cent, at ₹2,044 crore as against ₹1,621 crore in the same period last year.
The company has gained ₹160 crore arising on the fair valuation of Bicara Therapeutics Inc (Bicara) due to loss of control from subsidiary to associate reported under ‘other income’ for the quarter.
The company had reported profit of Rs 159.1 crore in the corresponding period a year ago. Total income of the company rose by 26.13 per cent to Rs 2,044.1 crore as against Rs 1,620.6 crore for the same period year ago, the company said in a regulatory filing. Kiran Mazumdar-Shaw, Executive Chairperson of Biocon, said: In Q4FY21 our revenues grew 26 per cent year-on-year to Rs 2,044 crore driven by our biosimilars, research services and generics businesses . Mazumdar-Shaw said the Biocon Group is catering to the countrywide demand for Remdesivir, Itolizumab and CytoSorb. Syngene through its vaccination centre is offering immunisation services for Biocon Group employees as well to others operating in Electronic City, Bengaluru. Despite the challenges posed by the second COVID-19 wave in India, we will endeavour to have safe and uninterrupted operations and enable access to life-saving medicines for our patients and customers, she added.