Biocon’s net profit for the quarter ended June 30, rose 12.5 per cent to Rs 78.8 crore. Consolidated total income rose to Rs 576.7 crore from Rs 443.5 crore in the year-ago period, showing a growth of 30 per cent. The company’s board had approved the scheme of arrangement for merging the wholly owned subsidiary Biocon Biopharmaceuticals Ltd with it, subject to the approval of Karnataka HC.
Kiran Mazumdar-Shaw, CMD, stated, “We have seen strong performances across all our business verticals and this reflects the success of our segmented business model.”