Biocon Sep-quarter net profit sees five-fold surge on exceptional income

Biocon's revenue rose 35 per cent to Rs 13.75 billion from Rs 10.19 billion in the second quarter of the previous financial year

Driven by strong growth across biologics, small molecules and research services segments, biotechnology major Biocon on Wednesday posted a three-fold rise in consolidated net profit at Rs 1.84 billion, excluding exceptional income, for the quarter ended September 30 as compared to the corresponding period a year ago.

However, including net exceptional income of Rs 1.71 billion the net profit grew five-fold at Rs 3.55 billion for the quarter. The exceptional income was primarily due to the fair value of the company's investment in US-based Equillium. It is a biotechnology company which licensed its antibody drug candidate Itolizumab from Biocon. 

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