Biocon net profit up 71 pc to Rs 144 crore in June quarter
New Delhi: Biotechnology major Biocon on Wednesday reported a 71 per cent increase in consolidated net profit at Rs 144 crore for the June quarter on the back of robust growth across business verticals. The company had posted a net profit of Rs 84 crore in the April-June quarter of the previous fiscal.
Total revenue rose to Rs 2,217 crore in the first quarter as compared with Rs 1,808 crore in the year-ago period, Biocon said in a regulatory filing.
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Biocon Executive Chairperson Kiran Mazumdar-Shaw said revenues grew as a result of robust growth in both biosimilar and generics verticals.
"Our financial performance this quarter includes the impact of annual increments in personnel costs as well as increased input and freight costs, pursuant to pandemic and geopolitical disruptions of global supply chains," she added
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Biocon Limited is an innovation-led global biopharmaceuticals company headquartered in Bangalore. It has developed and commercialized novel biologics, biosimilars, and complex small molecule APIs in India and several key global markets, as well as generic formulations in the US and Europe.
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