Biocon's Strategic Growth Amidst Financial Dynamics in Q3 FY25

Biocon reported a net profit of Rs 25 crore for Q3 FY25, down from Rs 660 crore the previous year, mainly due to exceptional gains last year. The company's income was Rs 3,821 crore. Growth in biosimilars and research services, with significant global approvals, indicates strategic long-term plans.

Biocon, a leading biotech firm, announced a net profit of Rs 25 crore for the third quarter of fiscal year 2024-25. This marks a significant decrease from the Rs 660 crore profit recorded during the same period last year, a change attributed to the absence of exceptional gains reported in the previous year.

According to the company's recent filing, total income for the quarter was Rs 3,821 crore, compared to Rs 3,954 crore a year prior. Biocon Chairperson Kiran Mazumdar-Shaw highlighted that despite this decline, the company experienced a robust 14% growth in the biosimilars sector and an 11% increase in research services.

Strategic developments, including approvals for bUstekinumab and gLiraglutide in major markets, are set to boost growth in the upcoming quarters. The company also noted changes in its investment in Bicara Therapeutics, impacting its financial reporting and strategic positioning.

(With inputs from agencies.)