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Biocon Earnings : Q4FY20 Revenue Up 6% At Rs 1,644 Cr

Net Profit (before exceptional item) Up 4% at Rs 760 Cr.

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Biocon Ltd, an biopharmaceuticals company, today announces its consolidated financial results for the fourth quarter and fiscal year ended on March 31st, 2020.

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.

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