Biocon Q4 Results: Net profit jumps 31% on strong biosimilar business growth

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Indian biopharmaceutical company Biocon posted a 31% year-on-year rise in Q4 FY23 net profit, at INR313 crore ($41.9m), driven by successful biosimilar and research services businesses. The company registered INR239 crore in the same quarter of the prior financial year. Biocon's revenue from operations was up 56.7% YoY to INR3,734 crore, and its core EBITDA rose 56% YoY to INR1,260 crore. Biocon Biologics -- the company's biosimilar vertical -- saw a YoY growth of 114% with revenues at INR2,102 crore.

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