Biocon Q4 net profit surges 86 pc to Rs 296.4 cr

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April 29, 2021 1:05 PM

Biotechnology major Biocon has reported 86.29 per cent jump in consolidated profit to Rs 296.4 crore for the quarter ended March 31, 2021. The company had reported profit of Rs 159.1 crore in the corresponding period a year ago.

Biotechnology major Biocon, Biocon technology, Kiran majumder shaw, biocon profit, biocon jump in quarterly profirMazumdar-Shaw said the Biocon Group is catering to the countrywide demand for Remdesivir, Itolizumab and CytoSorb.

Biotechnology major Biocon has reported 86.29 per cent jump in consolidated profit to Rs 296.4 crore for the quarter ended March 31, 2021. The company had reported profit of Rs 159.1 crore in the corresponding period a year ago.

Total income of the company rose by 26.13 per cent to Rs 2,044.1 crore as against Rs 1,620.6 crore for the same period year ago, the company said in a regulatory filing. Kiran Mazumdar-Shaw, Executive Chairperson of Biocon, said: “In Q4FY21 our revenues grew 26 per cent year-on-year to Rs 2,044 crore driven by our biosimilars, research services and generics businesses”.

Mazumdar-Shaw said the Biocon Group is catering to the countrywide demand for Remdesivir, Itolizumab and CytoSorb.
“Syngene through its vaccination centre is offering immunisation services for Biocon Group employees as well to others operating in Electronic City, Bengaluru. Despite the challenges posed by the second COVID-19 wave in India, we will endeavour to have safe and uninterrupted operations and enable access to life-saving medicines for our patients and customers,” she added.

In a separate filing, the company said its board of directors has approved the stepping down of Anupam Jindal as Chief Financial Officer (CFO) with immediate effect. The board also cleared the appointment of Indranil Sen as CFO with immediate effect. Shares of Biocon were trading 1.47 per cent higher at Rs 396.70 apiece on BSE.

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