Biocon net declines 62% in Q4

India's biotechnology major Biocon Ltd has posted Rs 127 crore consolidated net profit for the fourth quarter (January-March) of fiscal 2016-17 as against Rs 333 crore in the same period year ago, registering a whopping decline of 62 per cent year-on-year (YoY). In a regulatory filing on the BSE on Thursday night, the city-based pharmaceutical company said consolidated revenue for the quarter (Q4) under review was muted at Rs 974 crore as against Rs 973 crore in like period year ago.

Ebitda (earnings before interest, tax, depreciation and amortisation), however, grew 5 per cent YoY to Rs 231 crore from Rs 221 crore in like quarter year ago. Sequentially or quarter-on-quarter (QoQ), net profit in Q4 (Rs 127 crore) was 26 per cent lower YoY from Rs 171 crore in the third quarter (October-December). Revenue too in Q4 (Rs 974 crore) was 11 per cent lower QoQ from Rs 1,092 crore in the third quarter (Q3) and Ebitda (Rs 231 crore) was 29 per cent lower YoY from Rs 324 crore in Q3. For the fiscal under review (FY 2017), consolidated net profit grew 11 per cent YoY to Rs 612 crore from Rs 550 crore in fiscal 2015-16 (FY 2016).

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