Biocon Ltd Q4 FY2020 Consolidated net profit slides to Rs. 123.4 crore

BIOCON LTD. has reported financial results for the period ended March 31, 2020.

Financial Results (Q4 FY19-20) - QoQ Comparison

The company has reported total income of Rs.1644.1 crores during the period ended March 31, 2020 as compared to Rs.1783.9 crores during the period ended December 31, 2019.

The company has posted net profit / (loss) of Rs.123.4 crores for the period ended March 31, 2020 as against net profit / (loss) of Rs.202.8 crores for the period ended December 31, 2019.

The company has reported EPS of Rs.1.04 for the period ended March 31, 2020 as compared to Rs.1.71 for the period ended December 31, 2019.

Financials	Q4 FY19-20	Q3 FY19-20	% Change
Total Income	₹ 1644.1 crs	₹ 1783.9 crs	-7.84%
Net Profit	₹ 123.4 crs	₹ 202.8 crs	-39.15%
EPS	₹ 1.04	₹ 1.71	-39.18%

Financial Results (Q4 FY19-20) - YoY Comparison

The company has reported total income of Rs.1644.1 crores during the period ended March 31, 2020 as compared to Rs.1557 crores during the period ended March 31, 2019.

The company has posted net profit / (loss) of Rs.123.4 crores for the period ended March 31, 2020 as against net profit / (loss) of Rs.213.7 crores for the period ended March 31, 2019.

The company has reported EPS of Rs.1.04 for the period ended March 31, 2020 as compared to Rs.1.79 for the period ended March 31, 2019.

Financials	Q4 FY19-20	Q4 FY18-19	% Change
Total Income	₹ 1644.1 crs	₹ 1557 crs	5.59%
Net Profit	₹ 123.4 crs	₹ 213.7 crs	-42.26%
EPS	₹ 1.04	₹ 1.79	-41.9%

Financial Results (12 months ended FY 19-20) - YoY Comparison

The company has reported total income of Rs.6528.6 crores during the 12 months period ended March 31, 2020 as compared to Rs.5658.8 crores during the 12 months period ended March 31, 2019.

The company has posted net profit / (loss) of Rs.748.2 crores for the 12 months period ended March 31, 2020 as against net profit / (loss) of Rs.905.3 crores for the 12 months period ended March 31, 2019.

The company has reported EPS of Rs.6.30 for the 12 months period ended March 31, 2020 as compared to Rs.7.60 for the 12 months period ended March 31, 2019.

Financials	Year Ended FY19-20	Year Ended FY18-19	% Change
Total Income	₹ 6528.6 crs	₹ 5658.8 crs	15.37%
Net Profit	₹ 748.2 crs	₹ 905.3 crs	-17.35%
EPS	₹ 6.30	₹7.60	-17.11%

Commenting on the results, Kiran Mazumdar-Shaw, Executive Chairperson, stated: "Q4FY20 witnessed a muted growth of 6% with revenues at Rs 1,644 Crore due to operational challenges including one-time COVID-19 related impact on our Biologics business. Small Molecules and Research Services businesses, however, delivered robust growth of 15% and 14%, respectively. On a full-year basis, we reported a revenue growth of 15% led by a strong performance by Biologics which grew by 29%, Small Molecules by 18% and Research Services by 10%. We believe that the Biologics business will recover in Q1FY21 and fully normalise from Q2FY21. For FY20, EBITDA at Rs 1,765 Crore reported a growth of 15%. Net Profit, before exceptional item, at Rs 760 Crore reported a 4% growth. Core margins were strong at 33% with EBITDA margin of 27% and Net Profit margin of 11%."

"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. We are confident that together with our teams and partners we will assure safe and uninterrupted manufacturing and enable access to our life-saving medicines despite the current challenges," she added.

Commenting on the performance, Siddharth Mittal, CEO & Managing Director, Biocon Ltd, said, "Steady API sales and a robust YoY growth in Generic Formulations led to a 15% increase in Small Molecules revenue for the fourth quarter, helping us close FY20 with a 18% rise in revenue to Rs 2,094 Crore. For the first time ever, the Small Molecules business crossed an annual revenue milestone of Rs 2,000 Crore. The new financial year comes with a new set of challenges in the midst of the ongoing COVID-19 pandemic. However, we are confident of emerging from the current situation stronger and more determined than ever to deliver on our commitment to provide the highest quality biopharmaceuticals to our patients and partners."

Shares of BIOCON LTD. was last trading in BSE at Rs.335.3 as compared to the previous close of Rs. 337.3. The total number of shares traded during the day was 273066 in over 4236 trades.

The stock hit an intraday high of Rs. 343.4 and intraday low of 333. The net turnover during the day was Rs. 92431995.

Source : Equity Bulls

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