Conference Call with Biocon Management and Analysts on Q3FY22 Performance and Outlook. Listen to the full earnings transcript.
Biotechnology firm Biocon declares Q3FY22 result: Biocon Q3FY22 Revenue at Rs 2,223 Cr, Up 18%; EBITDA at Rs 537 Cr, Up 25%; Biosimilars Up 28% at Rs 981 Cr; Research Services Up 10% at Rs 641 Cr Generics Up 7% at Rs 607 Cr Consolidated Revenue grew 18% to Rs 2,223 Crore from Rs 1,885 Crore in Q3FY21 Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) was Rs 537 Crore (vs. Rs 428 Crore in Q3FY21) Core EBITDA* margins were at 33% Profit before Tax (PBT) was Rs 269 Crore (vs. Rs 236 Crore in Q3FY21) Net Profit was Rs 187 Crore (vs. Rs 169 Crore in Q3FY21) Commenting on the results, Kiran Mazumdar-Shaw, Executive Chairperson, Biocon, said, “Biocon’s consolidated Q3FY22 revenues grew by 18% YoY to Rs 2,223 Crore, driven by a strong performance across all business segments. Biosimilars grew by 28% to Rs 981 Crore, Research Services was up 10% at Rs 641 Crore and Generics delivered a 7% growth at Rs 607 Crore. “EBITDA at Rs 537 Crore grew by 25%, which was impacted by mark- to- market loss attributed to Biocon Biologics’ equity investment in Adagio. Core EBITDA stood at Rs 715 Crore with a healthy margin of 33%. PBT for the quarter stood at Rs 269 Crore. Adjusted for Adagio related loss, PBT was higher at Rs 346 Crore, indicating a healthy operating profitability.” “Biocon Biologics achieved a key milestone with the commercialization of the world's first interchangeable biosimilar, our Insulin Glargine, in the U.S.. Approvals for several of our generics and biosimilars in global markets, and renewal of key long-term research service agreements at Syngene, position us for a strong close to this fiscal,” she added. Result PDF