Concord Biotech Q2 profit slides 34%; board clears new ventures

About this update from Concord Biotech Ltd.

Concord Biotech Ltd on Thursday, November 13, reported a 33.6% year-on-year decline in its net profit at ₹63.6 crore for Q2FY26, compared to ₹95.7 crore in the same period last year.The company's revenue also declined 20.4% to ₹247.1 crore from ₹310.2 crore.Earnings before interest, tax, depreciation, and amortisation (EBITDA) fell 35.3% to ₹88.4 crore. The operating margin slipped to 35.8% from 44% a year ago.The company’s board has approved a proposal to acquire 100% equity in Celliimune Biotech Pvt Ltd, marking a strategic expansion move in the biotech segment, stated the company's exchange filing.Additionally, the board cleared an investment of up to ₹10 crore in a captive hybrid solar power project for its Limbasi plant, reinforcing the company’s commitment to sustainable operations.Shares of Concord Biotech Ltd ended marginally higher on Thursday, November 13, by 0.04% at ₹1,463.80 on the NSE.

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