Biocon Q4 profit plunges 63 percent but core business grows

The headline drop is tied to one-off charges

Biocon’s fourth-quarter net profit fell 63% year-on-year, driven by exceptional one-off charges that weighed on the numbers. Despite the shock, the company’s core businesses expanded, supported by the integration of its biosimilars and generics operations. The firm said it will focus on improving profitability and delivering long-term value, recommending a final dividend of Rs 0.50.