Biocon Q2 results: Net profit declines 10% to Rs 168 crore, revenue up 26%

Biocon's core Ebitda came in at Rs 816 crore, up 34 per cent

Biocon posted a 10 per cent dip in net profit for Q2FY23 to Rs 168 crore on account of tax adjustments. Its overall revenue from operations grew by 26 per cent during the quarter to Rs 2,320 crore led by 34 per cent year on year growth in the biosimilars business.

The generics business grew by 18 per cent to Rs 623 crore, while the research services grew by 26 per cent. Generics contribute 26 per cent of Biocon’s overall turnover, while research services contribute 32 per cent, and biosimilars have the largest share of 42 per cent.

Biocon’s core