The group reported Q3FY25 operating revenue of Rs 3,821 crore, driven by sustained double-digit growth of 14 per cent in biosimilars
Biocon has posted a consolidated net profit of Rs 25.1 crore in the third quarter of the financial year 2024-25 (Q3FY25). During the same period in the previous financial year, the company reported a loss of Rs 16 crore. It also reported a profit before tax (PBT) of Rs 155.9 crore, down 80.8 per cent in Q3FY25.
The group reported Q3FY25 operating revenue of Rs 3,821 crore, driven by sustained double-digit growth of 14 per cent in biosimilars on a like-for-like basis and an 11 per cent rebound in research services. Biocon’s earnings before interest and taxes (EBIT) amounted to Rs 787 crore, reflecting a 20 per cent margin.
Commenting on the results, Kiran Mazumdar-Shaw, Chairperson, Biocon Group, said: “The Biocon Group reported Q3FY25 Operating Revenue of Rs 3,821 crore, with performance driven by a sustained double-digit growth of 14% on a like-for-like basis in Biosimilars and a return to growth in Research services, which grew by 11%. The growth trajectory is clearly visible with sequential growth across all the three business segments this quarter. EBITDA at Rs 787 crore, reported a growth of 16% while Profit before Tax and Exceptional Items at Rs 138 crore, improved significantly from a marginal loss last year, on a like-for-like basis.
“Syngene’s return to growth, combined with global approvals for bUstekinumab and European approval for gLiraglutide, will pave the way for launches and drive growth in Q4 and beyond. These developments will strategically position the Biocon Group for enhanced long-term growth,” she added.
Peter Bains, Group CEO, Biocon Limited, added: “Biocon Group’s Q3FY25 financial performance was led by 10% like-for-like growth in Operating Revenue. The strengthening of operational building blocks has improved growth visibility across all three businesses, reinforcing our confidence in continued growth for the rest of this fiscal year and beyond.
“The Biosimilars business sustained its growth momentum in this quarter and now has clear line of sight for multiple new product launches beginning in Q4FY25. Syngene’s growth rebound this quarter sets a positive trajectory for the remainder of the year. Recovery in the Generics business in the fourth quarter will be driven by the launch of our first GLP-1 generic in the UK and EU, coupled with new speciality product launches in the U.S.”
Siddharth Mittal, CEO and MD, Biocon, said: “The 10 per cent sequential revenue growth in the generics business was primarily driven by API sales, supported by an improved performance from generic formulations. We expect to see an improved performance in the quarters ahead.”
Jonathan Hunt, CEO and MD, Syngene International, noted that Discovery Services' initial “China+1” pilot projects with large and mid-size pharma firms are evolving into long-term contracts, reflecting Syngene’s strong partnerships, scientific excellence, and high standards. The contract development and manufacturing organisation (CDMO), driven by biologics, saw positive momentum, indicating stabilising US biotech market dynamics, though later than expected.
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