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Biocon has reported a strong second quarter numbers, on the back of good performance across its biologics, small molecules and research services segment.
The bio-tech major showed net profit growth of 167 per cent to ₹355 crore, excluding net exceptional income of ₹171 crore.
The exceptional income was attributed to change in the fair value of its investment in US-based Equillium. The bio-tech company also posted strong topline growth. Total revenue for the quarter grew 35 per cent to ₹1,375 crore in the September-ended quarter.
The biologics business clocked ₹367 crore. Similarly, small molecules business raked in ₹432 crore, which is a 23 per cent growth when compared to September-ended quarter of 2017. Research services business grew 25% to ₹419 crore. The net profit margin of the company excluding exceptional item also grew strongly. Margins for the second quarter stood at 13 per cent.
In the quarter, the company said the regulatory filings for key APIs in developed and emerging markets prepare the business for a better play.
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