Biocon Q1 consolidated net up 36% to Rs 52cr

A significant upswing in the biopharmaceuticals business has enabled Biocon to register a 36% growth in its consolidated net profit to Rs 52.8 crore for the quarter ended June 30, 2007, compared to the corresponding quarter of the previous fiscal.Revenue grew by 28% to Rs 272 crore.

Kiran Mazumdar-Shaw, CMD,  Biocon said: "We have delivered robust and growing profits at a time when we are challenged with increased R&D investment, strengthening currency and rising operating costs. This has been possible due to expanded markets for our bio-therapeutics as well as significant licensing income from our R&D programmes."

During the quarter, the company's income from biopharmaceuticals grew by 28% year-on-year (YoY) to Rs 206 crore. Contract research handled by the subsidiary Syngene grew by 52% YoY to Rs 44 crore. However, the company's income from enzymes dropped by 3% YoY to Rs 21 crore.