Biocon — Tummet grows 15%, profit drops sharply

Biocon achieved its financial results for the quarter ended 30 June with its revenue from the operations, which is a year-on-year by 15% higher than £ 3,942, powered by profits in its biosimilars and CRDMO businesses. The net profit fell 95% compared to the same quarter in the previous year due to a one -time profit from the sale of its brand formulating business in Q1FY25. Biocon’s net profit for the quarter was at £ 31 crore, compared to £ 660 crore in Q1FY25. With the exclusion of the division gains from Q1FY25, the profit increased by 65%, the company said in a release. The Bengaluru-based drugmaker’s income and profit missed street estimates. A Bloomberg poll of 11 brokers linked its revenue to £ 4.024 crore and profit after tax at £ 111.7 crore. The company reported an £ 829 crore ebitda, with 53% year -on -year. The ebitda increased by 19%, the company said. Ebitda margins contracted to 21% from 38% in the same period last year. The company’s biosimilars business, which accounts for 61% of its total turnover, yielded an income of £ 2,458 crore on an annual £ 2,458 year-on-year. The Generics business achieved an income of £ 697 crore, 6% yoy, and the CRDMO business under Syngene International, achieved a 11% to £ 875 crore growth. “Biocon Open FY26 with a Strong Performance, Driven by continued gains in biosimilars and crdmo, and a steady showing in generics. Operating Revenue Rose 15% yoy to ₹ 3.942 crore, with ebitda up 19% on a like-for-for-good basis, Businesses, ”Kiran Mazumdar-Shaw, Chairperson, Biocon Group, said in a statement. Successful QIP increase during the quarter, the company collected £ 4.500 crore through a qualified institutional placement (QIP). The funds will be used to increase Biocon’s interest in its subsidiary Biocon Biologics and give a retirement to private equity investors, the company said in the exemption. “The recent QIP has strengthened our balance sheet and enables us to raise our ownership in Biocon Biologics by facilitating the exit of structured stock investors and aligning capital structure with long-term strategic priorities,” Shaw said. Biocon said in the last quarter that his board of directors had set up a committee to evaluate a merger of biocon biologics with the parent firm. During the quarter, the company introduced its tenth global biosimilar, YESAFILI, which is used to treat ophthalmic conditions in Canada, and received USFDA approval for insulin aspart.