‘Encouraged by strong performance’, says Kiran Mazumdar-Shaw on Biocon Q4 results

A day after the fourth quarter results of pharma behemoth Biocon were out, Biocon Executive Chairperson Kiran Mazumdar-Shaw has said in a recent tweet that the pharma company feels very encouraged by strong performance in Q4. She added that Biocon is unique and heavily differentiated stock which comprises largest portfolio of biosimilars.    

She tweeted, “Very encouraged by our strong performance in Q4 setting us up for an even stronger performance in FY23. Biocon is a unique and highly differentiated stock that spans the largest portfolio of biosimilars, a highly specialized generics business and very advanced research services.”  

She also told news agency PTI, “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.”  

She also talked about the company’s strategic transactions with Viatris and Serum Institute Life Sciences and said that these “will position Biocon Biologics as a world leading, unique, fully integrates biologics company with a strong differentiated portfolio of biosimilars and vaccines.”  

Biocon Q4 results

Biocon reported a 4 per cent decline in consolidated net profit to Rs 283.9 crore in the quarter ending March 31, 2022. The company posted a consolidated net profit of Rs 296.4 crore in the same quarter previous fiscal.  

Consolidated net revenue from operations stood at Rs 2,408.8 crore in the fourth quarter as against Rs 1,842.1 crore in the year-ago period, news agency PTI reported. Total expenses went up to Rs 2,039.6 crore in the same period versus Rs 1,624.6 crore in the year-ago period.  

The company posted a consolidated net profit of Rs 771.6 crore for FY22 as compared to Rs 846.2 crore in the previous fiscal. Its consolidated net revenue from operations stood at Rs 8,184 crore for FY22 as compared to Rs 7,143.1 crore in the previous fiscal.  

Its generic business comprising active pharmaceutical ingredients (APIs) and generic formulations business posted revenue of Rs 717 crore in Q4, 26 per cent more than the year-ago period. In FY22, the generics business posted Rs 2,341 crore revenue.   

Biocon’s biosimilar business logged revenue of Rs 982 crore in the fourth quarter, 48 per cent higher than the same period of the previous fiscal. The segment reported revenue worth Rs 3,464 crore for FY22, 24 per cent higher.   

Biocon’s board of directors recommended a final dividend at rate of 10 per cent of the face value per share for financial year ending March 2022.  

(With agency inputs)  

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