Biocon clocks RS 660-cr net profit

Bengaluru: Biocon Ltd, Bengaluru-based pharmaceutical giant, on Thursday announced its consolidated financial results for the fiscal third quarter ended December 31, 2023. Kiran Mazumdar Shaw, Executive Chairperson, Biocon and Biocon Biologics, said that Biocon delivered consolidated Revenue of Rs4,519 crore for Q3FY24, driven by 65 per cent growth in Biosimilars and 9 per cent growth in Research Services. Consolidated EBITDA at Rs1,492 crore grew by 106 per cent. Net Profit, boosted by other income, stood at Rs660 crore. “A key milestone this quarter was the successful conclusion of the transition of the acquired business by Biocon Biologics and a pre-payment of $200 million towards the acquisition-related debt reduction.