Biotechnology major Biocon on Friday posted a 9.38% increase in its consolidated net profit at Rs. 92.81 crore for the third quarter ended December 31, 2012.

The company had posted a net profit of Rs. 84.85 crore during the same period of previous fiscal.

Net sales of the company rose to Rs. 634.22 crore for the third quarter, as against Rs. 516.59 crore during the same period of 2011-12 fiscal.

"We have performed well across all our business verticals. We continue to gain market share for biosimilar insulins in ROW (rest of the world) markets which now accounts for a significant part of our business," Biocon chairman and managing director Kiran Mazumdar-Shaw said in a statement.

Shares of Biocon were trading at Rs. 266 on the BSE in the afternoon trade, up 0.89% from its previous close.