Biocon Q3FY26 results: Revenue up 9%, net profit rises on generics push

Board gives in-principle nod to make Biocon Biologics a wholly owned subsidiary as Q3 net profit climbs to Rs 143.8 crore

Bengaluru-based biopharmaceutical major Biocon reported a consolidated net profit of Rs 143.8 crore for the third quarter of 2025–26 (Q3FY26), a rise from a low base of Rs 25.1 crore in the same period last year.

 

Revenue from operations for the December quarter rose 9.2 per cent year-on-year to Rs 4,173 crore on improved performance in both its biosimilar and generic segments. The firm had reported operating revenue of Rs 3,821.4 crore in Q3FY25.

 

Biocon’s generics business, which contributes 20 per cent to its overall revenue, saw a 24 per cent year-on-year rise in its topline from Rs 686 crore in Q3FY25 to Rs 851 crore in Q3 this year.

 

“This performance was driven by the ongoing launches of gLiraglutide across EU markets, alongside an improved performance in our generic formulations portfolio, supported by select new product launches and base business growth in the US,” the firm said in a statement.

 

Similarly, Biocon’s biosimilars segment (Biocon Biologics) grew 9 per cent year-on-year to Rs 2,497 crore in the December quarter, up from Rs 2,289 crore last year. The growth was primarily driven by strong demand and favourable pricing across key markets such as North America.

 

On an operating basis, the group’s earnings before interest, tax, depreciation and amortisation (Ebitda) grew 21 per cent to Rs 951 crore in the December quarter, up from Rs 787 crore last year.

 

Kiran Mazumdar-Shaw, chairperson of the Biocon Group, said that the settlement of structured debt obligations earlier this year significantly strengthened the firm’s balance sheet, with an improvement in the consolidated debt-to-Ebitda ratio.

 

“This will improve PBT margins going forward, with the full impact of reduced interest costs of Rs 300 crore annually expected to be reflected in FY27,” she added.

 

Separately, the Biocon board granted in-principle approval to acquire the remaining 2 per cent stake in Biocon Biologics Limited (BBL), which would make it a wholly owned subsidiary.

 

The move follows earlier acquisitions that raised Biocon’s stake in BBL to around 98 per cent on a fully diluted basis. The remaining stake will be acquired from employees and other shareholders holding equity through stock option plans.

 

Mazumdar-Shaw added that the quarter marks the culmination of several strategic steps that have created a stronger and simpler group structure for Biocon. “The integration of Biocon Biologics Limited as a wholly owned subsidiary of Biocon Limited will bring to life our unified One Biocon vision,” she said.

 

The results were announced post market hours. On Thursday, Biocon’s shares fell marginally by 0.15 per cent, ending the day’s trade at Rs 375.25 apiece on the Bombay Stock Exchange (BSE).