Oct 19, 2016 03:08 PM IST IST | Source: Moneycontrol.com

Biocon Q2 PAT seen up 2.6% to Rs 171 cr: Centrum

Net Sales are expected to increase by 3.5 percent Q-o-Q (up 21.5 percent Y-o-Y) to Rs 1017 crore, according to Centrum.

Centrum has come out with its second quarter (July-September) earnings estimates for the Pharmaceuticals sector. The brokerage house expects Biocon to report net profit at Rs 171 crore, up 2.6 percent quarter-on-quarter.

Net Sales are expected to increase by 3.5 percent Q-o-Q (up 21.5 percent Y-o-Y) to Rs 1017 crore, according to Centrum.

Earnings before interest, tax, depreciation and amortisation (EBITDA) are likely to rise by 1.1 percent Q-o-Q (up 34.6 percent Y-o-Y) to Rs 266 crore.

Centrum's report on Biocon

Biocon’s net profit is likely to grow by 15% YoY and by 3% QoQ to Rs1.71bn. We expect the company to perform better in future due to the recent approval of insulin glargine in Japan and commencement of insulin manufacturing facility in Malaysia.

The company’s EBIDTA margin is expected to grow by 260bps YoY to 26.2% from 23.6% due to the overall decline in expenses. Biocon’s material cost is likely to decline by 10bps to 39.3% from 39.4%.

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