Biocon Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2023
February 08, 2024 at 07:05 pm IST
Share
Biocon Limited reported earnings results for the third quarter and nine months ended December 31, 2023. For the third quarter, the company reported sales was INR 39,537 million compared to INR 29,411 million a year ago. Revenue was INR 45,192 million compared to INR 30,197 million a year ago. Net income was INR 6,600 million compared to net loss of INR 418 million a year ago. Basic earnings per share from continuing operations was INR 5.52 compared to basic loss per share from continuing operations of INR 0.35 a year ago. Diluted earnings per share from continuing operations was INR 5.51 compared to diluted loss per share from continuing operations of INR 0.35 a year ago.
For the nine months, sales was INR 108,386 million compared to INR 74,003 million a year ago. Revenue was INR 116,555 million compared to INR 76,213 million a year ago. Net income was INR 8,870 million compared to INR 1,495 million a year ago. Basic earnings per share from continuing operations was INR 7.42 compared to INR 1.25 a year ago. Diluted earnings per share from continuing operations was INR 7.41 compared to INR 1.25 a year ago.
Biocon Limited is an India-based biopharmaceutical company, which focuses on treating diabetes, cancer and autoimmune diseases. Its segment includes Generics, Biosimilars, Novel Biologics and Research Services. It has developed and commercialized novel biologics, biosimilars, and complex small molecule active pharmaceutical ingredients (APIs) in India and several key global markets, as well as Generic Formulations in the United Sates, Europe and key emerging markets. Its API portfolio includes cardiology, anti-diabetics, immunosuppressants, multiple sclerosis, anti-cancer/oncology and other key products. Its products include Tacrolimus, Rosuvastatin, Simvastatin, Atorvastatin, Pravastatin, Fingolimod and others. It has over five facilities across Bangalore, Hyderabad and Visakhapatnam in India. Its API manufacturing facilities leverage complex technology platforms that range from microbial fermentation, chromatographic purification, chemical synthesis, peptide synthesis and HPAPIs.