India’s largest biotechnology company Biocon on Thursday posted a 12.5% year-on-year rise in net profit at Rs. 79 crore for the quarter ended June, 2012 against Rs. 70 crore a year ago on the back of healthy growth in branded formulations, contract research and biopharmaceuticals businesses.
“We have seen strong performances across all our business verticals,” said Kiran Mazumdar-Shaw, chairman and managing director, Biocon.
Income from biopharmaceuticals business grew 23% to Rs. 368 crore during the quarter from Rs. 299 crore a year ago. Income from branded formulations jumped 52% to Rs. 86 crore from Rs. 57 crore in the same quarter of the previous fiscal year led by oncology, diabetology and comprehensive care. Contract research business grew 40% to Rs. 123 crore from Rs. 88 crore.
Biocon’s shares fell 5% to Rs. 239 on the BSE on Thursday.