Biocon Posts Rs 217 Crore Profit In December Quarter, Beats Analysts' Estimates

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)