Biocon ltd.(NSE: BIOCON) Ltd. : Q3 FY23 Results Out; Total Income rise 35% YoY

Biocon Limited (NSE:BIOCON) is an Indian multinational biopharmaceutical company based in Bangalore, India. The company was founded in 1978 by Kiran Mazumdar-Shaw and is now one of the largest biopharmaceutical companies in India. Biocon is primarily engaged in the production of biosimilars, generic biologics, and research-based pharmaceuticals. It also has a presence in the areas of medical devices and nutraceuticals. The company has a strong focus on research and development and has collaborations with several global pharmaceutical companies to develop and market new drugs. Biocon has operations in India, the US, Europe, and other countries in the Asia-Pacific region.

Biocon Ltd reported a 36% increase in consolidated revenue to Rs 3,020 crore in Q3FY23. The robust performance was driven by a 54% increase in revenue from its Biosimilars business, which contributed the most to the company’s revenue. The Research Services and Generics businesses also reported revenue growth of 23% and 18%, respectively. The company’s net profit (excluding exceptional items) stood at Rs 140 crore. Biocon’s EBITDA grew by 35% to Rs 723 crore, with a healthy EBITDA margin of 24%. The company’s core EBITDA grew by 49% to Rs 1,069 crore. Biocon Biologics is expected to exit the year at a USD 1 billion trajectory, excluding vaccines, and the company is on track to end FY23 on a strong note with healthy growth across all its businesses.