Biocon Q4FY22 Results: Consolidated Profit rose 4.21% YoY to Rs 283.9 crore

Biocon, a biopharmaceutical company, has reported a 4.21% YoY decline in the consolidated profit at Rs 283.9 crore for the quarter ended March 31, 2022. It had posted a profit of Rs 296.4 crore posted in the corresponding quarter of the previous financial year.

The company's revenue from operations grew 30.76% to Rs 2,408.8 crore against Rs 1,842.1 crore posted last year. Its EBITDA grew 35.9% YoY to Rs 591.9 crore in the reported quarter against Rs 435.7 crore posted last year. Its margin grew to 24.6% in Q4FY22 compared to Rs 23.7% posted in Q4FY21.

Kiran Mazumdar-Shaw, Executive Chairperson, Biocon and Biocon Biologics, said, "FY22 was a transformational year for Biocon. Key strategic moves in our Biosimilars business position us for long-term growth and value creation for our stakeholders." She added, "We believe that the two strategic transactions, with Viatris and Serum Institute Life Sciences, will position Biocon Biologics as a world leading, unique, fully integrated biologics company with a strong differentiated portfolio of biosimilars and vaccines."

Besides, the Board of Directors of the company has recommended a final dividend at the rate of 10% i.e. Re 0.50 per equity share of face value of Rs 5 each for the financial year ended March 31, 2022. The record date for payment of final dividend is July 1, 2022. The dividend will be paid within 30 (thirty) days from the date of shareholders' approval at the ensuing 44th Annual General Meeting (AGM) which is scheduled to be held on Friday, July 29, 2022.

The board also approved the appointment of Ms. Naina Lal Kidwai as an Additional Director (Category: Non-Executive and Independent Director) of the Company with effect from the conclusion of the Board Meeting i.e. April 28, 2022, till the conclusion of the ensuing 44th AGM of the Company.

Further, Ms. Naina Lal Kidwai has also been appointed as an Independent Director of the Company, not liable to retirement by rotation, with effect from the conclusion of the Board Meeting i.e. April 28, 2022, till the conclusion of the 47th AGM proposed to be held in the year 2025, subject to the approval of shareholders of the Company.