(Reuters) - Indian biotechnology firm Biocon Ltd's quarterly profit more than doubled, handily beating analysts' estimates, largely driven by strong performance of its biologics businesses.
Profit rose to 2.17 billion rupees ($30.54 million) in the third quarter ended Dec. 31, compared with a profit of 919 million rupees a year earlier, the company said on Thursday.
Nine analysts on an average had expected a profit of 1.76 billion rupees, according to Refinitiv Eikon data.
Revenue from operations grew 45.6 percent to 154.08 billion rupees, while revenue from its biologics segment more than doubled.
More From This Section
($1 = 71.0580 Indian rupees)
(Reporting by Krishna V Kurup in Bengaluru; Editing by Subhranshu Sahu)