Biocon’s third quarter net profit increased by 18% to Rs 220 crore

According to the report, revenue for the biosimilars vertical increased to Rs 981.4 crore from Rs 768.9 crore in the previous fiscal quarter, while revenue for the generics segment increased to Rs 607.4 crore from Rs 567.1 crore. The company further said its research services registered a revenue of Rs 641.4 crore in the third quarter as against Rs 584.5 crore in the same period last fiscal. Total expenses during the period under review stood at Rs 1,906.4 crore as against Rs 1,648.7 crore in the year-ago quarter.

Biotechnology company Biocon Ltd reported a 17.68 percent increase in consolidated net profit for the third quarter ended December 31, 2021, to Rs 219.6 crore. In the same quarter of the previous fiscal, Biocon Ltd reported a consolidated net profit of Rs 186.6 crore, according to a regulatory filing. In the third quarter of this fiscal year, consolidated total income was Rs 2,222.5 crore, up from Rs 1,885.3 crore in the same period last year.