Biocon net profit up 53.36% at Rs 136.8 cr

New Delhi: Biocon Ltd on Wednesday reported a 53.36 per cent rise in consolidated net profit to Rs 136.8 crore in the first quarter ended June, on the back of strong growth in biopharma business.

The company had posted a consolidated net profit of Rs 89.2 crore in the corresponding period of the preceding fiscal, Biocon Ltd said in a regulatory filing.

Consolidated total income in the first quarter stood at Rs 4,390.5 crore, compared to Rs 4,021.6 crore in the year-ago period, it added.

Total expenses in the quarter under review stood higher at Rs 4,249.4 crore against Rs 3,907.5 crore in the same period a year ago, the company said. In the first quarter, biopharma revenue grew 17 per cent year-on-year, driven by momentum from recent biosimilar and generic product launches across key markets, Biocon said. Biosimilars revenue increased 16 per cent YoY to Rs 2,855 crore, while that of generics increased 21 per cent YoY to Rs 760 crore, it added.