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Biopharmaceutical major Biocon Ltd has reported a 95 per cent decline in net profit at Rs. 31 crore during the quarter ended June 30, 2025, as compared to Rs. 660 crore during the same period of previous fiscal year.
Revenue from operations grew 15 per cent to Rs. 3,942 crore during the quarter, as against Rs. 3,433 crore in the corresponding quarter of last fiscal year.
EBITDA grew 19 per cent up to Rs. 829 crore, while the EBITDA margin grew 21 per cent during the quarter, according to the company. The net R&D investment during the quarter was Rs. 205 crore, which is seven per cent of the revenue.
“Biocon opened FY26 with a strong performance, driven by continued gains in biosimilars and CRDMO, and a steady showing in generics. Operating revenue rose 15 per cent YoY to Rs. 3,942 crore, with EBITDA up 19% on a like-for-like basis, demonstrating operating leverage and the robustness of our businesses," said Kiran Mazumdar-Shaw, chairperson, Biocon Group.
Biosimilars, under the Biocon Biologics and accounts to 61 per cent of the company's revenue, grew 18 per cent during the quarter to Rs. 2,458 crore, while the CRDMO business representing Syngene's business and accounts to 22 per cent of the revenue, grew 11 per cent YoY to Rs. 875 crore during the quarter. Generics business, which comprises 17 per cent of the revenue, grew 6 per cent YoY to Rs. 697 crore.
The recent QIP has strengthened our balance sheet and enables us to increase our ownership in Biocon Biologics by facilitating the exit of structured equity investors, aligning capital structure with long-term strategic priorities, she added.
“The generics business’ performance in the first quarter was in line with expectations, delivering a 6 per cent revenue growth over the previous year," said Siddharth Mittal, CEO & managing director, Biocon Limited.
Growth in the quarter was primarily driven by revenues from recent drug product launches, including liraglutide in the EU, and dasatinib and lenalidomide in the US, supported by higher volumes in its API business. The sequential financial performance reflects the one-time positive impact of lenalidomide launch quantities in Q4FY25. The capitalization of new manufacturing facilities in the previous fiscal impacted margins, he added.
Shreehas Tambe, CEO & managing director, Biocon Biologics Limited said, "Biocon Biologics started FY26 on a strong footing, delivering 18 per cent year-on-year revenue growth, driven by robust demand across key markets. EBITDA rose 36 per cent Y-o-Y on a like-to-like basis to Rs. 645 crore, with a 300 bps sequential margin improvement, driven by improved operating leverage."
The US FDA approval of Kirsty (bAspart) builds on the strong foundation established with Semglee (bInsulin Glargine), enabling the company to offer patients the full range of affordable short and long-acting insulin therapies, added Shreehas.
With regulatory approvals for bDenosumab products — Vevzuo and Efraxy — in Europe and the UK, Biocon Biologics now has 12 approved biosimilar molecules globally. The launch of Yesafili (bAflibercept) in Canada marked the company's entry into ophthalmology and the successful commercialization of our 10th biosimilar globally, added the official.
Peter Bains, CEO & managing director, Syngene International Limited, said, "“We delivered a strong first-quarter performance in line with expectations, with revenue from operations growing 11% year-on-year to Rs. 875 crore and EBITDA at Rs. 224 crore, reporting a growth of 19 per cent."
Biocon has successfully concluded its first equity fundraise since the 2004 IPO, raising Rs. 4,500 crore through a well-received Qualified Institutions Placement (QIP) in June 2025.
In the US, the company launched its injectable drug product, Micafungin, an echinocandin anti-fungal medication that treats and prevents a range of fungal or yeast infections, and Everolimus (Zortress) tablets used to prevent kidney and liver transplant rejection.
In India, approval for liraglutide (gVictoza) was obtained under the Government of India’s recently introduced ‘Reliance on Recognized Regulatory Authorities’ framework, that recognizes approvals granted by established and well-referenced stringent regulatory authorities.
This marks the company’s first approval in India for its vertically integrated GLP-1 drug product. The company is preparing to launch the product through its commercialization partner, said the company.
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