Biocon reports sharp rise in net profit during Q3

Biotechnology major Biocon Thursday reported over a twofold jump in consolidated net profit to Rs 217.2 crore for the third quarter ended December 2018, mainly on account of the strong performance of its biologics business. The company had posted a net profit of Rs Rs 91.9 crore for the corresponding period of the previous fiscal, Biocon said in a filing to the BSE.

Its consolidated revenue from operations stood at Rs 1,540.8 crore for the quarter, against Rs 1,057.9 crore, it added. Shares of Biocon Ltd closed at Rs 670.55 per scrip on the BSE, up 0.04 per cent from the previous close.