Biocon net up 52% in second quarter

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Biotech major Biocon Ltd on Thursday reported Rs 147 crore consolidated net profit for second quarter (July-September) of fiscal 2016-17, registering 57 per cent annual growth from Rs 97 crore in same period year ago. 

 

In a regulatory filing to the stock exchanges, the city-based listed firm said consolidated sales for the quarter (Q2) under review was Rs 940 crore, posting 20 per cent annual growth from Rs 786 crore in like period year ago. 

 

"Our performance in Q2 was led by strong growth across small molecules, biologics and research services. Expansion of our biologics footprint in emerging markets and licensing agreements boosted the revenue," said Biocon Chairperson Kiran Mazumdar-Shaw in a statement here. 

 

The company's earnings before interest, tax, depreciation and amortization (Ebitda) at Rs 277 crore shot up 45 per cent from Rs 192 crore in same period year ago, while operating margin increased to 28 per cent from 23 per cent year ago.