Biocon's second-quarter profit halved to 41 crore rupees due to supply delays
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Biocon's second-quarter profit halved to 41 crore rupees due to supply delays

Pharmaceutical giant Biocon, based in Bangalore, reported a 52% drop in consolidated net profit for the year, amounting to 41 crore rupees for the second financial quarter of 2027. This decline occurred as supplies worth approximately $20 million failed to enter the reporting period, while the company's revenue increased by 2%, reaching 4,389 crore rupees.

The results were announced during the trading session, after which Biocon shares rose by 0.19% and closed at 344 rupees on the BSE exchange. Net profit decreased compared to the previous year (85 crore rupees) and compared to the June quarter (141 crore rupees).

Details on Financial Performance

Shrihas Tambe, Managing Director of Biocon, explained that supply delays, which account for about 5% of biopharmaceutical revenue, are caused by ongoing geopolitical turmoil, and the goods only reached customers after September. According to accounting rules, the revenue could not be recognized in the second quarter, although the corresponding costs were accounted for. Since the products were sold in October, the revenue will appear in the third quarter.

Tambe emphasized that there are 'no fundamental problems in the business,' calling the situation a matter of revenue recognition. Furthermore, EBITDA fell by 7% to 865 crore rupees, and the margin decreased from 22% to 20%. Nevertheless, Tambe predicted that the margin would remain in the mid-twenties range, although he did not provide specific targets for the second half of the year.

Revenue from biopharmaceutical operations grew by 5% to 3,583 crore rupees, with biosimilars increasing by 3% and generics by 10%. Revenue from services, mainly Syngene, decreased by 9% year-on-year but consistently grew by 13%. For the first half of the year, biopharma revenue grew by 11%, and net profit increased by 57% to 182 crore rupees.

Growth Prospects and New Contracts

Tambe stated that the second half of the year would be stronger, citing four growth factors. The company's biosimilar of ustekinumab, Yesintek, holds 34% of the US market, and its aflibercept biosimilar, Yesafili, is increasing production volumes. The company signed a 10-year contract to supply pertuzumab in Brazil worth approximately $400 million, with deliveries starting in the fourth quarter. The launch of pertuzumab in Europe is expected in the same quarter in a market valued at $600–700 million, where Biocon and Organon are the only approved players.

Additionally, a second insulin filling line is now operational in Malaysia, expanding production capacity to meet demand in the US. Regarding semaglutide, Biocon has transferred the technology of its product to the Brazilian partner Biomm, which is seeking approval from the Anvisa regulator. Tambe noted that the approval process could take between 12 and 24 months and declined to disclose the regulatory status in Canada.

Responding to questions about the US midterm elections, Tambe stated that both political parties are focused on reducing healthcare costs, and Biocon expects to remain protected from these changes. He added: 'We are part of the solution.'

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The educational technology company PhysicsWallah reported on Wednesday that its net profit for the second quarter of fiscal year 2027 nearly doubled, reaching 142.29 crore rupees. In the same quarter last year, the company reported a profit of 69.72 crore rupees.

The net profit in Q2FY27 followed a loss of 87.04 crore rupees recorded in the first quarter of fiscal year 2027.

The company's operating revenue amounted to 1,242.26 crore rupees, which is 18 percent higher compared to the previous year when it was 1,051.24 crore rupees. Meanwhile, total expenses increased by 10.5 percent, reaching 1,105.4 crore rupees in the quarter ending in September, compared to 999.55 crore rupees the previous year. In the preceding quarter, the company's expenses were 1,242.17 crore rupees.

Earnings before interest, taxes, depreciation, and amortization (EBITDA) rose to 348 crore rupees, and adjusted EBITDA stood at 399 crore rupees. As of September 30, 2026, the company's treasury balance reached 5,268 crore rupees, including proceeds from the initial public offering.

Founder's Statement

Alakh Pandey, founder and CEO of PhysicsWallah, noted that the current quarter demonstrates the strength of their business model. He stated that the company achieved record revenue and significant improvement in profitability, while the student base continues to expand in K-12 segments, local languages, and new categories. The company maintains a focus on scaling accessible, technology-driven education with disciplined capital allocation.

Previously, the company mentioned that in the previous quarter, the examination cycle was postponed due to the NEET exam leak scandal, which led to a temporary change in admission timelines and a decrease in NEET applicants in Q1. However, in the second quarter, NEET applicant enrollment grew by more than 30 percent as demand postponed due to the NEET UG postponement was realized.

In addition to JEE-NEET exams, PhysicsWallah reported that growth is expanding through other categories, which accounted for 73.8 percent of online enrollments, up from 64.8 percent. Specifically, enrollments for council and CUET exams grew by 130 percent, reaching 4.55 lakh, while enrollments for preparation courses grew by 15 percent to 5.7 lakh, and enrollments in local languages grew by 77 percent to 1.23 lakh.

The company's online revenue increased by 26.4 percent year-on-year, reaching 694 crore rupees, while offline segment revenue grew by 9 percent year-on-year, amounting to 541 crore rupees.

Regarding expansion into the southern Indian market, PhysicsWallah indicated that its target market covers approximately 15 million students in Andhra Pradesh, Telangana, Tamil Nadu, Karnataka, and Kerala. The company noted that in the first half of the current calendar year, the number of students on the PhysicsWallah app from South India grew by 32 percent to 4.1 lakh, and paying students grew by 14 percent to 1.17 lakh. Currently, the company has 63 centers in the southern region.

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In the comparable period a year earlier, the exchange recorded a net profit of 197.47 crore rupees, according to regulatory filings. Total revenue increased to 799.66 crore rupees compared to 374.23 crore rupees a year prior, while expenses rose from 150.41 crore rupees to 211.36 crore rupees.

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Pravanna Rai, CEO and Managing Director of MCX, noted that the strong results in the second quarter of fiscal year 27 reflect the sustained confidence of market participants and the growing significance of the exchange in the evolving commodity ecosystem. She attributed this performance to steady growth across all product segments, increased market participation, and ongoing efforts to expand the product basket.

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ACC Ltd, a cement manufacturer part of the Adani Group, reported on Tuesday a significant drop in consolidated net profit of 91.7% compared to the previous period, amounting to 93 billion rupees for the September quarter of fiscal year 27. This decline was due to a reduction in sales volume caused by the Master Supply Agreement (MSA) with the parent company.

Previously, the company had shown a profit of 1,119 billion rupees for the period from July to September. According to regulatory filings by ACC, a subsidiary of Ambuja Cements, the profit a year earlier included a tax refund of 659 billion rupees related to the previous period, as well as interest on the tax refund of 205 billion rupees.

Operating revenue for the September quarter of FY27 decreased by 5.24% year-on-year, reaching 5,656 billion rupees. Meanwhile, total expenses increased by 2.46% to 5,602 billion rupees. In the cement segment, revenue fell by 6.9% to 5,206 billion rupees. The company attributed this decrease in sales volume to a higher volume of MSA with the parent company, Ambuja Cements, in Q2FY26.

Cement manufacturers enter into MSAs with parent entities to optimize logistics operations and stimulate growth within the group. Nevertheless, ACC's revenue from Ready Mix Concrete (RMC) grew by 26.4% to 574 billion rupees in this quarter. In this segment, the company achieved a quarterly volume of 1.07 million cubic meters, corresponding to a 19% year-on-year increase.

ACC's total income, including other receipts, increased by 10.45% to 5,587.76 billion rupees in the second quarter. Vinod Bahati, Director and CEO, noted: 'Although the figures presented are not strictly comparable due to the influence of the MSA, the underlying business momentum remains encouraging, supported by our trading partners. Industry demand remains supportive and is expected to strengthen after the monsoon season due to housing construction, infrastructure, and capital expenditure, while improved price dynamics should mitigate the impact of increased fuel and energy costs.'

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