Biocon Limited reported its financial results for the first quarter, with net profit surging more than four-fold compared to the same period a year earlier. The Bangalore-headquartered biopharmaceutical company's performance was driven by robust growth across its core business segments.

The Biopharma business remained the primary growth engine during the quarter. Total revenue from this division rose 17% year-on-year to ₹3,615 crore, supported by momentum from recent biosimilar and generic product launches across key global markets. Biocon has been steadily expanding its biosimilars portfolio — lower-cost versions of biologic drugs used to treat conditions such as cancer, diabetes, and autoimmune diseases — following its 2022 acquisition of Viatris' global biosimilars business through its subsidiary Biocon Biologics, which significantly broadened its commercial footprint in developed markets including the United States and Europe.

Within the Biopharma segment, biosimilars revenue grew 16% year-on-year to ₹2,855 crore. Generics revenue increased 21% to ₹760 crore. The company attributed the growth to the ongoing rollout of new products in both categories across major international markets.

Biocon, listed on India's stock exchanges under the symbol BIOCON (CNBC-TV18 code: BL03), is one of India's largest biopharmaceutical companies, with operations spanning biosimilars, generic formulations, and novel biologics. The company's results come amid increasing global demand for affordable biologics and generics, as healthcare systems worldwide seek cost-effective alternatives to pricey branded treatments.

Source: CNBC-TV18 Markets