Biocon Q4 PAT seen up 2% QoQ at Rs 86.2 cr

Pharmaceutical firm Biocon is expected to report a growth of 2% quarter-on-quarter in its profit after tax of Rs 86.2 crore for the fourth quarter of FY12, according to CNBC-TV18 poll. The company had reported PAT of Rs 84.8 crore in the previous quarter.

Revenues are seen going up by 4% to Rs 542 crore from Rs 518.5 crore during the same period.

EBITDA is likely to go up by 11% to Rs 143.4 crore in the January-March quarter of 2012 versus Rs 129 crore in October-December quarter of 2011. Operating profit margin is expected to be at 26% versus 24.8% quarter-on-quarter.

The company had divested Axicorp (its German subsidiary) in Q1FY12, therefore the YoY numbers will be different when released.
 
On year-on-year basis, Biocon is likely to report degrowth of 23% in revenues and 14.5% in profit after tax.

Key factors to watch for

Impact of the Pfizer deal being called off in March

On an adjusted basis a revenue growth is marginal sequentially on account of performance from Biopharma vertical
**In Q3, Biopharma fell 13% to Rs 340 crore on a 62% decline in licensing income to Rs 29.2 crore and on an adjusted basis Biopharma was flat at Rs 300 crore – management had indicated normalization of this in last quarter.

In Q3, domestic formulation grew 49% YoY led by ramp up in insulin and CRAMS grew 42% to Rs 110 crore