Goa, September 07: After raising ₹939 crore through an IPO in August this year, Molbio Diagnostics has announced a consolidated net profit of Rs 52.74 crore for the first quarter of the 2026-27 fiscal year. This marks a significant reversal from the ₹ 23.94 crore loss it recorded during the same period last year, as the company has had to deal with high operational costs, and the challenge of dealing with uncertain government contracts that got delayed, affecting almost 80% of its revenues.
Following its transition to a public entity, the company’s revenues have declined by 27% quarter-on-quarter (QoQ) as the Goa-based company has been focusing on investing the IPO proceeds on Research and Development at its new facility in Bengaluru. Molbio Diagnostics is aiming to address this structural issue of ‘lumpy’ revenue from government contracts by investing in R&D to move beyond infectious diseases like tuberculosis and hepatitis into high growth areas like oncology and point of care lifestyle disease screening.
“I am pleased to report that we have begun the year on a strong note, with healthy growth across both revenue and profitability in Q1. However, our business continues to have a non-linear revenue profile, with performance varying across quarters. We therefore believe it is important to assess our performance on a full-year basis. During the quarter, certain export orders pertaining to Q4 FY26, amounting to approximately ₹ 57 crore, were deferred due to the prevailing situation in the Gulf and were subsequently recognised in Q1 FY27. Total Income for Q1 FY27 stood at ₹411.48 Cr, with EBITDA at ₹103.68 Cr against a loss of ₹14.50 Cr in Q1 FY26. Growth continues to be led by test-kit consumption across the 12,500+ Truenat® devices sold in 90+ countries.
We entered FY27 with meaningful capacity headroom – FY26 device and test-kit utilisation at 42% and 58%, respectively, positioning us for volume-led scale-up without near-term incremental capex. Our pipeline of 34 additional assays across 22 diseases remains on track and will be a key long-term driver as we extend beyond infectious disease into oncology and other non-communicable areas.
Internationally, we are deepening our presence across Africa and Southeast Asia, entering Latin America, and progressing regulatory pathways in developed markets, including CE-IVDR for our CTNG Test.
We remain focused on disciplined execution, sustained R&D intensity and improving cash flow quality as our international and acquired businesses scale.” Mr. Sriram Natarajan, Executive Director & Chief Executive Officer, Molbio Diagnostics Limited, said in a press release.
