Biocon (BIOS) reported robust revenue growth of ~30% YoY at Rs1,465Cr (vs. estimate of Rs1,548Cr), aided by strong growth in biologics (up 96% YoY) and small molecule (up 20% YoY). Branded formulation (down 9% YoY) and Research service business (up 4% YoY) dragged the growth in Q1.