Biocon has posted Q1 FY15 results. The company has recorded revenues at Rs 742 crores. EBITDA at Rs 191 crores and PAT at Rs 103 crores.
The biopharma segment recorded revenues of Rs 436 crores in Q1FY15. The branded formulations recorded revenues of Rs 111 crores in the same period. The vertical grew at 10 per cent Y-o-Y, in line with the industry. The research services segment grew by 12 per cent Y-o-Y, recording revenues of Rs 172 crores.
Commenting on the quarterly performance and highlights, Kiran Mazumdar-Shaw, Chairman and Managing Director, Biocon stated, “Our revenue growth this quarter has been muted. Our business performance reflects the challenges that we are temporarily facing in some of our key markets especially in the Middle East. We are working towards diversifying our regional dependencies to diminish the impact of such externalities. However, we have sustained our operating margins and profits despite increase in costs. Our business profitability has remained intact indicating the benefits of portfolio optimisation. Our development pipeline across biosimilars and novel candidates continues to progress well. We remain committed towards improving our performance in the coming quarters.”
EP News Bureau- Mumbai