New Delhi: Biotechnology major Biocon reported a net profit of Rs 215.7 crore for the quarter ended September 30, 2019.

The company had posted a net profit of Rs 354.7 crore for the corresponding period of the previous fiscal, Biocon said in a BSE filing.

Consolidated total income of the company stood at Rs 1,610.6 crore for the quarter under consideration as against Rs 1,375.4 crore for the same period year ago.

"A robust growth of 40% by Biologics and 23% by Small Molecules, coupled with a steady performance by the Research Services business drove the consolidated revenue for the quarter to Rs 1,611 crore, reporting a growth of 17% year-on-year," Biocon Chairperson and MD Kiran Mazumdar-Shaw said.

Reported net profit for the second quarter is lower on a year-on-year basis due to an exceptional income of Rs 171 crore reported in the previous fiscal, she added.

"We have increased investments in R&D for portfolio expansion as well as for high quality talent acquisition to enable independent management of Biocon Biologics, Small Molecules and Novels businesses under the new organizational structure," Mazumdar-Shaw said.

(For all the latest News, Mumbai, Entertainment, Cricket, Business and Featured News updates, visit Free Press Journal. Also, follow us on Twitter and Instagram and do like our Facebook page for continuous updates on the go)

Free Press Journal