Pharmaceutical firm Biocon is expected to report degrowth of 32 percent in first quarter profit at Rs 113 crore compared with Rs 166.6 crore in year-ago quarter due to weak operational performance and higher depreciation.
Revenue is seen growing moderately to Rs 996.4 crore for the quarter against Rs 982.4 crore in same quarter last fiscal, according to average of estimates of analysts polled by CNBC-TV18.
Subdued revenue may be led by sluggishness in biopharma and domestic formulation negated by research services.
Domestic formulation business may fall as much as by 30 percent due to higher base and GST. However, growth from Syngene International, which is estimated at 10-18 percent YoY, may negate revenue pressure.
Operating profit during the quarter may drop 20% to Rs 211.3 crore and margin may contract by 560 basis points to 21.2 percent year-on-year.
Depreciation is likely to be on higher side due to commencement of Malaysian facility.
The stock rallied 14 percent year-to-date on hopes of biosimilar portfolio kicking off.
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