New Delhi, Aug. 7 -- Biocon posted its financial results for the quarter ending 30 June with its revenue from operations up 15% year-on-year at Rs.3,942 crore, driven by gains in its biosimilars and CRDMO businesses.

Its net profit fell 95% compared to the same quarter in the previous year due to a one-time gain from the divestment of its branded formulations business in Q1FY25.

Biocon's net profit for the quarter was at Rs.31 crore, compared to Rs.660 crore in Q1FY25. Excluding the divestment gain from Q1FY25, its profit increased by 65%, the company said in a release.

The Bengaluru-based drugmaker's revenue and profit missed street estimates. A Bloomberg poll of 11 brokerages had pegged its revenue at Rs.4,024 crore and profit after ...