Biocon net profit up 14%

Biocon's net profit for the quarter ended December stood at Rs 105 crore, 14 per cent higher compared to the year-ago period, owing to a sharp rise in revenue from its contract research segment.

On Wednesday, the company stock rose three per cent to a 52-week high of Rs 497.4, but pared gains to close at Rs 479.15 on BSE, down 0.65 per cent.

During the December quarter, the company's expenses rose eight per cent to Rs 532 crore. Earnings before interest, tax, depreciation and amortisation stood at Rs 187 crore, up 12 per cent year-on-year.