Biocon Q3 profit jumps 5.7x to ₹144 cr; revenue up 9%

Biocon Limited on Thursday reported a 5.7-fold year-on-year (YoY) increase in consolidated net profit attributable to the shareholders of the company, reaching ₹144 crore for the quarter ended December 31, 2025 (Q3 FY26). The company had reported a profit of ₹25 crore in the corresponding quarter of the previous fiscal year (Q3 FY25).

Exceptional items

While the profit for shareholders surged, the company's total bottom line was hit by an exceptional loss of ₹293.4 crore. This one-time charge was primarily driven by:

• Biocon Biologics integration: Costs associated with the share swap and acquisition of minority stakes to make Biocon Biologics a wholly owned subsidiary.

• Regulatory adjustments: Provisions related to the newly notified labour codes and inventory repurposing.

• Derivative gains: These losses were partially offset by derivative gains recognised upon the settlement of certain structured debt obligations.

Due to these non-recurring items and a loss attributable to non-controlling interests, the company reported a total net loss of ₹52 crore for the period, contrasting with the profit growth seen at the shareholder level.

Operational metrics

Biocon’s top line remained on a growth trajectory, with consolidated revenue from operations rising 9.2% YoY to ₹4,173 crore, up from ₹3,821 crore in Q3 FY25.

On the operational front, consolidated EBITDA grew by 10.9% to ₹834 crore, compared to ₹752 crore in the year-ago period. The company’s EBITDA margin improved to 20%, up from 19.7% YoY.

Segment-wise performance

The growth was broad-based across Biocon's diverse business verticals:

• Biosimilars (Biocon Biologics): Remained the largest contributor with revenue of ₹2,497 crore, representing 60% of total revenue.

• Generics: Saw strong momentum with a 24% YoY growth, reaching ₹851 crore, driven by the launch of Liraglutide in European markets.

• CRDMO (Syngene): Reported steady revenue of ₹917 crore, maintaining its contribution amid a stabilising global biotech funding environment.

During the quarter, the board had approved the acquisition of the remaining minority stakes in Biocon Biologics, paving the way for it to become a wholly owned subsidiary. This move is expected to simplify the corporate structure and allow Biocon to fully capture the value of its biosimilars business.

The shares of Biocon Ltd ended 0.27% higher at ₹376.20 apiece on the national stock exchange on Thursday. The company's stock has risen almost 6% in the past year, underperforming the benchmark Nifty 50 index that has risen over 11% during the same period.