InvestorQ : Why did Biocon report such a sharp fall in net profits for the Mar-20 quarter?
Deepa Salunkhe made post

Why did Biocon report such a sharp fall in net profits for the Mar-20 quarter?

Answer
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Juvina Maggie answered.
5 months ago


Biocon reported 42.2% fall in its net profits for the Mar-20 quarter at Rs.123 crore. Even the profit before tax (PBT) fell by 28%. The company’s revenue saw muted growth of 6% at Rs.1644 crore. The fall in profits was largely due to due to operational challenges including one-time Covid-19 related impact on the Biologics business. Small Molecules and Research Services businesses delivered 15%. The company reported EBITIDA margins of 23% for the quarter. The Biologics segment reported negative growth of (-21%) on COVID blues.