Biocon consolidated net profit rises 18% to Rs 220 crore in Q3

Biotechnology major Biocon Ltd on Thursday reported a 17.68 per cent increase in consolidated net profit at Rs 219.6 crore for the third quarter ended December 31, 2021.

The company had posted a consolidated net profit of Rs 186.6 crore in the same quarter of the previous fiscal, Biocon Ltd said in a regulatory filing.

Consolidated total income in the third quarter this fiscal stood at Rs 2,222.5 crore as compared to Rs 1,885.3 crore in the corresponding period a year ago.

Biosimilars vertical clocked revenue of Rs 981.4 crore as compared to Rs 768.9 crore in the same quarter last fiscal, while the generics segment had a revenue of Rs 607.4 crore as against Rs 567.1 crore earlier, the filing said.

The company further said its research services registered a revenue of Rs 641.4 crore in the third quarter as against Rs 584.5 crore in the same period last fiscal.

Total expenses during the period under review stood at Rs 1,906.4 crore as against Rs 1,648.7 crore in the year-ago quarter.