Biocon Ltd posted a sharp 95.2 per cent drop in consolidated net profit for the June quarter. The company’s earnings falls to Rs. 31.4 crore from Rs. 659.7 crore in the same period last year. Revenue from operations rose 14.8 per cent year-on-year to Rs. 3,942 crore. This is up from Rs. 3,433 crore in Q1 FY25.  EBITDA rose 19 per cent to Rs 829 crore.

Commenting on the result, Kiran Mazumdar-Shaw, Chairperson, Biocon Group, said: “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% 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.

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.

Key developments this quarter include the launch of Yesafili in Canada, our tenth biosimilar globally, and USFDA approval for Insulin Aspart, our second interchangeable biosimilar Insulin, further deepening our presence in the U.S. insulin market.

With execution momentum across all businesses and expanded capacity through acquisitions in the U.S. by Syngene and Biocon Generics, we are well-positioned to drive long-term value creation in FY26 and beyond.”

Biosimilars revenue grew 18 per cent YoY to Rs. 2,458 crore in the quarter. This growth was driven by sustained global demand. Segment EBITDA rose 36% on a like-for-like basis to Rs. 645 crore. Market share gains were also seen in Europe, with Yesintek expanding into new markets, while Ogivri and Abevmy held market shares of 21 per cent and 15 per cent, respectively.

Meanwhile, the Board approved an investment of up to Rs. 1.4 crore in Pro-zeal Green Power Sixteen Pvt Ltd, giving Biocon a 26 per cent equity stake via a mix of shares and convertible debentures.