Biocon Q1 Net Profit up 53.36% at Rs 136.8 Cr, Led by Biopharma Biz

New Delhi: Biocon Ltd on Wednesday reported a 53.36 per cent rise in consolidated net profit to Rs 136.8 crore in the first quarter ended June, on the back of strong growth in biopharma business.

The company had posted a consolidated net profit of Rs 89.2 crore in the corresponding period of the preceding fiscal, Biocon Ltd said in a regulatory filing.

Consolidated total income in the first quarter stood at Rs 4,390.5 crore, compared to Rs 4,021.6 crore in the year-ago period, it added.

Total expenses in the quarter under review stood higher at Rs 4,249.4 crore against Rs 3,907.5 crore in the same period a year ago, the company said.

In the first quarter, biopharma revenue grew 17 per cent year-on-year, driven by momentum from recent biosimilar and generic product launches across key markets, Biocon said.

Biosimilars revenue increased 16 per cent YoY to Rs 2,855 crore, while that of generics increased 21 per cent YoY to Rs 760 crore, it added.

Commenting on the performance, Biocon Ltd Executive Chairperson, Kiran Mazumdar-Shaw said, “Biocon has entered FY27 with a clear focus on translating our strategic investments into sustainable growth and long-term value creation.” She further said, “A favourable policy environment for biosimilars together with our expanded manufacturing capabilities in the US reinforce our confidence in the long-term opportunities across North America, our biggest market.” Mazumdar-Shaw said the company remains confident that the investments in new capabilities at the company’s research services business will support its next phase of growth.

(Disclaimer: Except for the headline, this article has not been edited by HDFC Sky editorial team and is auto-generated from PTI feed.)