Biocon Q4FY20 net profit dips 42.3 per cent YoY

Biocon Limited has announced its financial result for the quarter ending March 2020. Its consolidated revenue for the quarter Q4FY20 came in at Rs 1,581 crore as against Rs 1,528.8 crore in the corresponding quarter last year, registering 3.4 per cent YoY increase.

EBITDA for the quarter fell by 20.9 per cent YoY to Rs 318.6 crore as against Rs 403 crore in the corresponding quarter last year, with a corresponding margin contraction of 621 bps while, EBITDA margin for the quarter stood at 20.2 per cent.

PAT for the quarter came in at Rs 123.4 crore as against Rs 213.7 crore in the corresponding quarter last year, with YoY decline of 42.3 per cent.

Looking at the full year numbers i.e. for FY20, the revenue jumped by 15 per cent YoY to Rs 6,367.2 crore while, EBITDA grew by 15 per cent YoY to Rs 1,603.1 crore. Further, the company reported net profit of Rs 748.2 crore, down by 17 per cent YoY.

The operational challenges due to COVID-19 had an impact on its biologics segment. However, its small molecules & research services’ segment delivered robust growth of 15 per cent and 14 per cent, respectively.

On Friday, the stock of Biocon opened gap-down 3.1 per cent at Rs 325.05 from its previous close of Rs 335.30.