Biocon Q4 results: Profit dips 42% on one-time Covid-19 impact

Biocon reported a 42% decline in net profit at Rs 123 crore for the January-march quarter. The Bengaluru-heradquartered company said its biologics business has taken a beating due to one-time Covid-19 related impact during the quarter.

Biocon’s consolidated revenue for the same period grew 6% to Rs 1,644 crore.

“Q4FY20 witnessed a muted growth due to operational challenges including one-time COVID-19 related impact on our Biologics business. We are dealing with unprecedented challenges related to COVID-19 and as a science-led company we are engaged in several initiatives spanning diagnostic tests, vaccines and therapies towards combating COVID-19. We have also implemented several workplace safety measures in accordance with Government guidelines, including temperature checks, wearing of masks, sanitising, zoning and physical distancing,” said Kiran Mazumdar-Shaw, Executive Chairperson, Biocon.


She added that Small Molecules and Research Services businesses delivered robust growth of 15% and 14%, respectively.

For the financial year 2019-20, the biopharma company posted a 15% growth in revenue at Rs 6,529 crore. On a full-year basis, Biocon’s growth can be largely attributed to strong performance by Biologics, which grew 29%.

Biocon’s Small Molecules business crossed an annual revenue milestone of Rs 2,000 crore last year.