Biocon Q4: Analysts expect 9% drop in PAT to Rs 89.4cr

Pharmaceutical firm Biocon is set to declare its fourth quarter FY13 numbers on Thursday. Analysts on an average expect the company's profit after tax to fall by 9 percent year-on-year to Rs 89.4 crore due to lower operational performance, according to CNBC-TV18 poll.

Revenues are seen going up by 7 percent to Rs 652 crore from Rs 610 crore during the same period.

Meanwhile, earnings before interest, tax, depreciation and amortisation (EBITDA) are likely to decline 5 percent YoY to Rs 146.6 crore in January-March quarter.

Operating profit margin is expected to slip to 22.5 percent in fourth quarter FY13 as against 25.3 percent in a year ago period.

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Analysts expect modest topline growth of 5-7 percent this quarter due to a high base of Q4FY12

In Q4FY12, Biopharma grew by 28 percent to Rs 446 crore and licensing income stood at Rs 46 crore, which both were not factored in.

Growth will be driven by 1) Biopharm, 2) 20 percent plus growth in CRAMS.

In previous quarter, Biopharma rose by 8 percent to Rs 372 crore as against Rs 345 crore YoY.

Branded formulation (India) went up by 42 percent YoY to Rs 91 crore in Q3 while CRAMS (syngene clinigene) grew by 39 percent to Rs 129 crore.

Analysts feel licensing income is expected to decline YoY to Rs 15-16 crore in March quarter as against Rs 46.3 crore in a year ago period. Hence, EBITDA could shrink 30-40 bps YoY due to lower licensing income & increase in R&D spend on the biogeneric pipeline.

The stock fell 1.43 percent to close at Rs 285.65 on Bombay Stock Exchange on Tuesday.