Biotechnology major Biocon’s on Friday reported a 20 per cent year-on-year increase in net profit at R89 crore for the quarter ended September 2010 on the back of strong sales in the biopharmaceuticals segment.
Total income during the second quarter rose 17 per cent to R680 crore against R581 crore in the year-ago period.
“All our core businesses have delivered robust performance in the first half of this fiscal and are expected to sustain this level of growth for the rest of the year,” said Kiran Mazumdar Shaw, chairman and managing director, Biocon.
The biopharma business posted a 27 per cent increase in revenues in the first half of the current fiscal year with growth in businesses such as insulins, immunosuppressants, statins and branded formulations.
The company’s total income during during the first half of the current fiscal year rose to R1,344 crore, compared to R 1,080 crore in the same period of the previous fiscal.