Mumbai, May 8 (IANS) Pharma company Biocon Limited on Friday reported a 56.8 per cent year-on-year decline in consolidated net profit to Rs 198.6 crore for the fourth quarter ended March 31, 2026, impacted by exceptional expenses related to multiple factors, including the implementation of the new labour code.

The biotechnology major had posted a consolidated net profit of Rs 459.4 crore in the corresponding quarter of the previous financial year, according to a regulatory filing by the company.

Despite the sharp decline in profit, the company reported a rise in revenue. Consolidated revenue from operations during the January-March quarter increased to Rs 4,516.6 crore from Rs 4,417 crore in the year-ago period.

Total expenses during the quarter rose to Rs 4,241.2 crore compared to Rs 3,987.5 crore in the same period last financial year, it said in its filing.

Biocon said the quarter included an exceptional item outgo of Rs 80.4 crore under various heads, including the impact arising from the new labour code, which affected the company’s bottom line.

For the full financial year 2025-26, the company’s consolidated net profit dropped sharply to Rs 368.8 crore from Rs 1,429.4 crore in FY25.

However, annual consolidated revenue from operations climbed to Rs 16,927 crore compared to Rs 15,261.7 crore in the previous fiscal.

Commenting on the performance, Kiran Mazumdar-Shaw said the company ended FY26 on a strong note despite operating in a challenging geopolitical environment.

“This performance reflects the resilience of our business and disciplined execution through a pivotal year of integration,” she stated.

The company also announced leadership changes, stating that Shreehas Tambe assumed charge as CEO and Managing Director from April 1, 2026, while Kedar Upadhye has been appointed as the Chief Financial Officer.

Meanwhile, Biocon’s board has recommended a final dividend of 50 paise per equity share with a face value of Rs 5 each for FY26, subject to shareholders’ approval at the upcoming annual general meeting.

–IANS

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