Biotechnology firm Biocon's quarterly profit more than doubled, handily beating analysts' estimates, largely driven by strong performance of its biologics businesses.
Profit rose to Rs 217 crore ($30.54 million) in the third quarter ended December 31, compared with a profit of Rs 91.9 crore a year earlier, the company said on Thursday.
Nine analysts on an average had expected a profit of Rs 176 crore, according to Refinitiv Eikon data.
Revenue from operations grew 45.6 per cent to 15,408 crore, while revenue from its biologics segment more than doubled.
($1 = Rs 71.05)