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Biocon Q2 Profit Halves to ₹41 Crore Amid Shipment Delays
Sentiment: NeutralHigh Priority
What Happened?
Biocon reported a 52% decline in consolidated net profit to ₹41 crore for Q2 FY27, impacted by delayed shipments worth $20 million. Revenue grew 2% to ₹4,389 crore.
Key points
- Net profit fell from ₹85 crore a year ago and ₹141 crore in the previous quarter.
- Delayed shipments accounted for about 5% of biopharma revenue.
- Earnings before interest, tax, depreciation, and amortization (Ebitda) dropped 7% to ₹865 crore.
- Biopharma revenue increased by 5% to ₹3,583 crore.
- Biocon expects a stronger second half, citing four growth drivers.
Key insights
- Biocon's biosimilar products are gaining market share, with Yesintek holding 34% in the US.
- The company has secured a $400 million supply deal for pertuzumab in Brazil.
- A European launch of pertuzumab is anticipated, tapping into a $600-700 million market.
Why it matters
The profit decline highlights the impact of shipment delays on Biocon's financial performance.
Entities
Biocon· CompanyBengaluru· CityBrazil· CountryUS· CountryAnvisa· Organization
Source
Business Standard
