Biocon Q2 Profit Drops 52%, Company Says Q2 Softness Temporary, Expects Stronger H2FY27

Biocon reported a resilient H1FY27 performance, with revenue growing 6% to ₹8,725 crore and net profit rising 57% to ₹182 crore. On a quarterly basis, the company reported a 52% year-on-year decline in consolidated net profit to ₹41 crore in Q2 FY27, even as revenue from operations grew 2% to ₹4,389 crore. EBITDA fell 7% to ₹865 crore, with margins contracting 200 basis points to 20% for the quarter. The performance comes amid contrasting trends across its businesses, with biosimilars revenue growing 3%, generics rising 10% and services revenue declining 9%. The subdued quarterly performance in biosimilars was due to a one-off deferral in revenue recognition on shipments caused by logistics disruptions arising from the geopolitical situation. Those shipments have since been completed and the revenues were booked in October. The quarter also saw Biocon secure a 10-year biosimilar Pertuzumab partnership in Brazil worth around $400 million and an agreement with Genentech securing early launch dates for the drug across major global markets. Business Today TV speaks to Kiran Mazumdar-Shaw, Executive Chairperson, Biocon, on the earnings performance, margin pressures, the global biosimilars opportunity, the company's growth strategy, its expanding presence in the US and Europe, and the road ahead for FY27. Biocon expects a much stronger performance in H2FY27, supported by improving biosimilars momentum and continued profitability improvement.