Biotechnology major Biocon Ltd has posted a consolidated net profit of Rs 146.7 crore in the second quarter ended September 30, 2016, compared to a consolidated net loss of Rs 10.6 crore in the same period a year ago, led by higher income.
Consolidated total income from operations climbed 19.8 per cent at Rs 954 crore in Q2 FY 2016-17 from Rs 796 crore in the year ago period, Biocon Ltd said in a filing to the Bombay Stock Exchange (BSE).
Consolidated total expenses rose 13.7 per cent at Rs 782.4 crore in Q2 FY 2016-17 from Rs 688 crore in the same period a year ago.
The company’s small molecules, biologics and branded formulations business expanded by a robust 15 per cent, 26 per cent and 15 per cent, respectively in Q2 FY 2016-17.
“Our performance in Q2 FY17, 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 further. Our ready-to-use Insulin Glargine pen launched in Japan has been well received which augurs well for this business. The acceptance of our proposed biosimilar Trastuzumab filing for review by EMA was a critical milestone this quarter”, the company said.
Shares of Biocon surged 2.52 per cent at Rs 1,005 a piece at 11:55 AM IST on Friday at the BSE.