Biocon Q2 results: Net profit declines 51% YoY to ₹41 crore, material cost rises 22%; biopharma revenue up 4.6%

Pharmaceutical major Biocon posted its July to September quarter results for the financial year 2026-27, in which the company recorded a 51% decline in the overall consolidated net profit due to elevated raw material costs and subdued revenue growth in the period.

As per the latest NSE filings, Biocon posted a 51.1% year-on-year (YoY) increase in its consolidated net profit (attributable to owners) to ₹41 crore in the second quarter of FY27, in comparison to ₹85 crore in the same period a year earlier.

The pharma company’s revenue from core operations advanced 2.1% YoY to ₹4,389 crore in the September quarter, from ₹4,296 crore in the corresponding quarter of the previous fiscal year.

The revenue gains were outpaced by the 3.7% increase in total expenses in the quarter under review due to the elevated cost of raw materials and other expenses in the period.

Data showed that the cost of raw materials jumped 22% YoY to ₹1,669 crore in the second quarter of FY27, in comparison to ₹1,368 crore in the same quarter of the previous financial year.

The company’s operating profits reduced marginally to ₹831 crore, in comparison to ₹835 crore in the same period a year earlier. Q2 EBITDA margins contracted to 18.9%, from 19.4% the previous year.

Biocon shares declined 1.76% after the company’s Q2 earnings release to hit an intraday low of ₹336.95 apiece on Wednesday’s market, in comparison to ₹343 apiece at the previous equity market close, according to NSE data.

“Together with the upcoming European launch of Pertuzumab, expanded insulin manufacturing capacity in Malaysia to support growing U.S. demand, and the strong early momentum of Yesafili™ and Yesintek® in the U.S., we are well positioned for growth in the second half of FY27,” said Shreehas Tambe, CEO & Managing Director of Biocon.

Segment revenues

Q2 earnings reports showed that Biocon’s revenue from its overall biopharmaceutical segment surged 4.6% YoY to ₹3,583 crore, in comparison to ₹3,422 crore in the same period a year earlier.

Within biopharmaceuticals, the Biosimilar revenues surged around 3%, while the Generics revenues advanced 10%, according to the consolidated financial statements.

The company also secured a 10-year biosimilar Pertuzumab PDP partnership in Brazil valued at $400 million.

How have Biocon shares performed?

NSE data showed that Biocon shares have remained largely flat in the last five years, but have delivered 54% returns to investors in the last three-year period. However, the stock has lost 9.1% in the past one-year period.

On a year-to-date (YTD) basis, the stock has lost 10.8% so far in 2026, and has declined 6.7% in the last one-month period. The exchange data showed that Bioson shares have lost 1.3% in the past five market sessions.

Shares of Biocon surged to their 52-week high of ₹447.15 apiece on July 16, 2026, while the 52-week low was at ₹318.40 apiece on October 23, 2026.

The company’s market capitalisation (m-cap) was at ₹55,572 crore as of the trading session on Wednesday, November 4, 2026.