Biocon Net Profit of Up By 550% to INR 660 Crore for Q1FY25 Biocon generated a total revenue of INR 4,567 crore in Q1FY25 and witnessed a net profit of 550 per cent
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Biocon reported a total consolidated revenue of INR 4,567 crore for Q1FY25, a 30 per cent year-on-year (YoY) increase from the same period previous year. Other income includes proceeds of INR 1,057 crore on account of the strategic collaboration between Biocon Biologics and Eris Lifesciences. The biopharmaceuticals company, in a regulatory filing, reported an EBITDA for the quarter of INR 1,755 crore, representing an EBITDA margin of 38 per cent. Net R&D investments for the quarter stood at INR 228 crore, representing 9 per cent of revenue ex-Syngene.
The outlook for this fiscal remains positive, as the company anticipates stronger growth in H2FY25, with new product launches in the Biosimilars and Generics businesses, including Liraglutide for diabetes and obesity in the UK and other markets. Additionally, Biocon expect improved business prospects for Syngene, supported by a resurgent biotech funding environment in the U.S.
"Biocon has reported consolidated revenues of INR 4,567 crore for Q1FY25, delivering a strong 30 per cent YoY growth, with EBITDA growing 117 per cent to INR 1,755 crore and a net profit of INR 660 crore. This strong performance was primarily on account of a one-time gain from the strategic collaboration between Biocon Biologics and Eris Lifesciences. Post integration, the Biosimilars business has delivered a healthy performance with 11 per cent like- for- like growth, as it consolidates business across global markets. This has helped offset the challenges of pricing pressures in the Generics segment and the difficult U.S. Biotech funding environment, which has impacted the growth trajectory of our Research Services business," said Kiran Mazumdar-Shaw, executive chairperson, Biocon and Biocon Biologics.
The company's profit before tax and exceptional items stood at INR 1,114 crore with a reported net profit for the quarter reaching INR 660 crore, a 551 per cent jump from Q1FY24.
