Biocon Q1 net profit up 47% on strong biologics, research services business

The company gained market share in several emerging markets such as Malaysia, Algeria and UAE

Riding on the back of a strong biologics and research services business, biotechnology major Biocon on Thursday posted a sharp 47 per cent increase in its consolidated net profit at Rs 1.20 billion for the first quarter ended June, 2018.

Total revenue of the company rose to Rs 11.93 billion, up 21 per cent from Rs 9.87 billion in the same period of the previous year, Biocon stated.

With an operating margin of 26 per cent for the quarter, its earnings before interest, tax, depreciation and amortisation stood at Rs 3.07 billion, a 25 per cent increase from the corresponding