Biocon Q1 Results: 30% YoY decline in net profit at Rs 101.4 crore

Biotechnology major Biocon Ltd reported a 30% YoY fall in net profit for the first quarter ended June 30, 2023, at Rs 101.4 crore.

The total income for the period under review was Rs 3,422.6 crore, up 60% from Rs 2,140 crore in the equivalent period of the previous fiscal. 

Biocon reported a standalone net profit of Rs 46.6 crore, up from Rs 14.9 crore in the previous fiscal's same period. According to the report, standalone revenue from operations was Rs 513.2 crore as opposed to Rs 441.7 crore in the same period last year.

EBITDA increased by 79% to Rs 714.4 crore in the first quarter of this fiscal year compared to Rs 399 crore in the same time last year.

In the reporting quarter, the EBITDA margin was 20.9%, up from 18.7% in the similar period of the previous fiscal year.

According to the company, its total expenses increased to Rs 3,299.2 crore in the first quarter from Rs 1,977.5 crore in the same time last year.

The results were announced after the market had closed.

Source: Media Reports