Biotechnology major Biocon has posted 17 per cent rise in net profit at Rs 147 crore for the first quarter ended June 30 on the back of robust growth in segments like biologics and branded formulations.
The Bangalore-based firm had posted a net profit of Rs 126 crore during the same period of previous fiscal.
Total revenue of the company rose to Rs 952 crore for thefirst quarter, as compared to Rs 857 crore during the sameperiod of corresponding fiscal, Biocon said in a statement.
"Our strong performance this quarter has beendriven by an all- round growth of our business across smallmolecules, biologics, branded formulations and researchservices," Biocon Chairperson and Managing Director KiranMazumdar-Shaw said.
The company's biologics business delivered a growth of 53per cent driven by the sales of biosimilars in emergingmarkets, she added.
"The submission of Pegfilgrastim, our first biosimilarfiling in EU, is a critical milestone this quarter. Ourinsulins business made a mark with the launch of InsulinGlargine in Japan," Mazumdar-Shaw said.
Besides, the company is on track for filing some of itsbiosimilars and generic formulations in the developed marketslater this year, she added.
Biocon shares today ended at Rs 701.50 apiece on theBSE, down 1.21 per cent from previous close.
(PTI)
