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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.
Read also: Biocon Biologics gets EU GMP certificate for new Bengaluru facility
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
Read also: Glasgow University inaugrates Mazumdar Shaw Advance Research Centre
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.
Read also: CCI approves sale of Viatris global biosimilars portfolio to Biocon Biologics
Medical Dialogues Bureau consists of a team of passionate medical/scientific writers, led by doctors and healthcare researchers. Our team efforts to bring you updated and timely news about the important happenings of the medical and healthcare sector. Our editorial team can be reached at editorial@medicaldialogues.in.