BIOCON

Biocon Ltd reported a 53.36% year-on-year increase in consolidated net profit to Rs 136.8 crore for the quarter ended June, driven by robust growth in its biopharma business. The company had posted a net profit of Rs 89.2 crore in the corresponding quarter last year. Following the earnings announcement, Biocon's shares gained around 4% on August 6, trading at Rs 441.85 apiece. Consolidated total income for the quarter rose to Rs 4,390.5 crore, compared with Rs 4,021.6 crore in the year-ago period. Total expenses also increased to Rs 4,249.4 crore from Rs 3,907.5 crore, reflecting higher operating costs. The company's biopharma business remained the key growth driver, with revenue rising 17% year-on-year, supported by strong momentum from recently launched biosimilar and generic products across major markets. Within the segment, biosimilars revenue grew 16% to Rs 2,855 crore, while generics revenue climbed 21% to Rs 760 crore. During the post-earnings conference call, the management said the company has started FY27 on a steady note and is well positioned to deliver stronger performance as the year progresses. It expects growth momentum to strengthen further during FY27, with a meaningful acceleration in the second half, particularly in the biosimilars business. Management also stated that it does not anticipate any material increase in competitive intensity in the generics segment.