Amid strong growth across all verticals, Biocon, a key player in the biotechnology industry, announced a 71% increase in its consolidated net profit for the June quarter, coming in at Rs144 crore.
In the April through June quarter of the prior fiscal year, the firm reported a net profit of Rs84 crore. In the first quarter, total sales increased to Rs2,217 crore from Rs1,808 crore in the same quarter last year, according to a regulatory filing by Biocon.
Revenues increased, according to Kiran Mazumdar-Shaw, executive chairman of Biocon, as a consequence of the sector’s strong growth in both generics and biosimilars.
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