Biocon's Q4 revenue hit by Covid-19 crisis, pre-tax profit declines 28%

Biotechnology major Biocon on Thursday posted a profit before tax (PBT) of Rs 204 crore for the fourth quarter of FY20, a decline of 28.2 per cent when compared with the corresponding quarter of previous financial year.

The net profit for the period declined 42.2 per cent to Rs 123 crore on y-o-y basis, according to a BSE filing by the company. The company’s revenue however saw a muted growth of 6 per cent as compared to Q4 of FY19.

“Q4FY20 witnessed a muted growth of 6 per cent with revenues at Rs 1,644 crore due to operational challenges including