Biocon Ltd. has announced a 95.2% year-on-year (YoY) decline in consolidated net profit to 31 crore in Q1 FY26, compared to 660 crore in the corresponding quarter last year. Last year's profit contained a one-off divestment gain that elevated the base and contributed to the decrease this year.
Biocon recorded a 15% YoY growth in overall revenue, amounting to 4,022 crore. Operating revenue was up 14% year-on-year to 3942 crores, compared to 3433 Crores in Q1 FY25. EBITDA rose to 19% and had a maintainable margin of 21%.
Its bio-products business, Biocon Biologics, has a revenue of 2,458 crore, an increase of 18% YoY. Within the segment, an EBITDA of 645 crore was attained, a 36% increase on a like-for-like basis. The organisation introduced Yesafili in Canada, and the FDA approved Insulin Aspart, the second biosimilar interchangeable insulin.
The generics business contributed 697 crore of revenue, which was up 6% year-on-year. This was due to the launch of new products like Liraglutide in the EU and Dasatinib and Lenalidomide in the US.
Nevertheless, new investments in the manufacturing sites impacted the segment's margins. Biocon also entered emerging markets, with a stronger revenue contribution, and the 12 product launches, coupled with new regulatory approvals, were driven by focusing on eight priority markets.
Its CRDMO subsidiary, Syngene, had revenue of 875 crores, an 11% increase YoY. The increase was due to research services taking long-term contracts. Unit III in Bengaluru was opened, and work was underway on the Bayview location in the US. The company also issued over 4500 crores in QIP (Qualified Institutional Placement) to strengthen its position in Biocon Biologics and restructure its capital structure.
Also, Biocon set aside 1.4 crore in a green energy project to accommodate sustainability objectives. Biocon introduced several products in the US, Micafungin and Everolimus, and obtained approval for Rivaroxaban. On the national scale, it was already granted acceptance through India's new recognition program.