Biocon Limited Reports Unaudited Consolidated and Standalone Earnings Results for the Third Quarter and Nine Months Ended December 31, 2015
January 21, 2016 at 10:21 am EST
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Biocon Limited reported unaudited consolidated and standalone earnings results for the third quarter and nine months ended December 31, 2015. For the quarter, on consolidated basis, the company announced net sales or income from operations, net of excise duty of INR 8,282 million compared to INR 7,611 million a year ago. Profit from operations before other income and finance costs and exceptional items were INR 1,270 million compared to INR 1,036 million a year ago. Profit from ordinary activities before tax was INR 1,452 million compared to INR 1,086 million a year ago. Net profit for the period was INR 1,211 million or INR 5.15 per basic and diluted share compared to INR 975 million or INR 4.63 per basic and diluted share a year ago. EBITDA was INR 2,090 million compared to INR 1,700 million for the same period a year ago.
For the nine months, on consolidated basis, the company announced net sales or income from operations, net of excise duty of INR 24,356 million compared to INR 22,296 million a year ago. Profit from operations before other income and finance costs and exceptional items were INR 4,234 million compared to INR 3,497 million a year ago. Profit from ordinary activities before tax was INR 7,854 million compared to INR 3,755 million a year ago. Net profit for the period was INR 5,867 million or INR 26.76 per diluted share compared to INR 3,117 million or INR 14.84 per diluted share a year ago. EBITDA was INR 6,670 million compared to INR 5,780 million for the same period a year ago.
For the quarter, on standalone basis, the company announced net sales or income from operations, net of excise duty of INR 5,056 million compared to INR 5,079 million a year ago. Profit from operations before other income and finance costs and exceptional items were INR 514 million compared to INR 491 million a year ago. Profit from ordinary activities before tax was INR 836 million compared to INR 638 million a year ago. Net profit for the period was INR 685 million or INR 3.43 per diluted share compared to INR 573 million or INR 2.87 per diluted share a year ago.
For the nine months, on standalone basis, the company announced net sales or income from operations, net of excise duty of INR 15,478 million compared to INR 15,813 million a year ago. Profit from operations before other income and finance costs and exceptional items were INR 2,259.0 million compared to INR 2,253 million a year ago. Profit from ordinary activities before tax was INR 8,446 million compared to INR 3,660 million a year ago. Net profit for the period was INR 6,706 million or INR 33.53 per diluted share compared to INR 3,134 million or INR 15.72 per diluted share 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.