Biocon stories 95% YoY decline in web revenue, working income up 15%

Biocon posted a 95% year-on-year decline in reported web revenue within the first quarter ended-June. Nevertheless, the corporate claims to have on a like-for-like foundation booked a 65% enhance in revenue after tax, after adjusting for the one-time divestment beneficial properties it made in the identical quarter a 12 months in the past from the sale of metabolic, oncology and significant care portfolio of its Branded Formulations India (BFI) enterprise to Eris Lifesciences.

The corporate’s working income for Q1FY26 grew 15% year-on-year to Rs 3,942 crore, whereas EBITDA for the quarter was at Rs 829 crore, up by 19% with an EBITDA margin of 21% on a like-for-like foundation, the corporate mentioned in an announcement.

“The current QIP has strengthened our steadiness sheet and allows us to extend our possession in Biocon Biologics by facilitating the exit of structured fairness traders, aligning capital construction with long-term strategic priorities,” mentioned Kiran Mazumdar-Shaw, Chairperson, Biocon Group.

“With execution momentum throughout all companies and expanded capability by way of acquisitions within the US by Syngene and Biocon Generics, we’re well-positioned to drive long-term worth creation in FY26 and past,” mentioned Shaw.

Biocon concluded its first fairness fundraise because the 2004 IPO, elevating Rs 4,500 crores by way of a Certified Establishments Placement (QIP) in June. The funds will probably be used to extend Biocon’s holding in Biocon Biologics and supply an exit to the personal fairness traders in Biocon Biologics, the corporate mentioned.

The corporate’s API & generic formulations enterprise reported 6% progress in income from operations to Rs 697 crore.“Progress within the quarter was primarily pushed by revenues from current drug product launches, together with liraglutide within the EU, and dasatinib and lenalidomide within the US, supported by increased volumes in our API enterprise,” mentioned Siddharth Mittal, CEO & Managing Director, Biocon.“We stay targeted on launching new merchandise, together with the commercialisation of liraglutide throughout key strategic markets,” he added.

Biocon Biologics posted 18% year-on-year income progress, pushed by strong demand throughout key markets.

The corporate’s CRDMO enterprise Syngene’s income from operations grew 11% year-on-year to Rs 875 crore and EBITDA was at Rs 224 crore, reporting a progress of 19%.

“Progress was pushed by continued momentum in analysis providers, as pilot applications transitioned into long-term contracts,” mentioned Peter Bains, CEO & Managing Director, Syngene Worldwide.