Biocon Q1 net profit falls 95% to Rs 31 crore
Biocon’s consolidated net profit plummeted by 95% to Rs 31 crore in the June quarter, with total revenue declining to Rs 4,022 crore. Despite this, operating revenue increased by 15% YoY, driven by Biosimilars and CRDMO gains. A recent QIP has strengthened the balance sheet, enabling increased ownership in Biocon Biologics and positioning the company for long-term value creation.🕒 1 min read
Biocon’s consolidated net profit plummeted by 95% to Rs 31 crore in the June quarter, with total revenue declining to Rs 4,022 crore. Despite this, operating revenue increased by 15% YoY, driven by Biosimilars and CRDMO gains. A recent QIP has strengthened the balance sheet, enabling increased ownership in Biocon Biologics and positioning the company for long-term value creation.
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