Biocon second-quarter bottomline up 20 per cent Y-O-Y

Biocon Ltd today said its second-quarter bottomline had swelled  by 20 per cent from a year earlier thanks to higher sales at its biopharmaceuticals and contract research businesses.

India's largest biotechnology company by revenue said its consolidated net profit for the quarter through September had risen to Rs892.2 million from Rs741.9 million a year earlier.

Consolidated sales were up 17 per cent to Rs6.79 billion from Rs5.80 billion.

"All our core businesses have delivered a robust performance for the first half of this fiscal [year through March 2011] and are expected to sustain this level of growth for the rest of the year," chairman Kiran Mazumdar-Shaw said in a statement.

The company sells biopharmaceuticals in India and overseas and also provides research services. It is also working on development of new drugs including orally administered insulin and a treatment for psoriasis, a skin disorder.

According to the company the revenue from its biopharmaceuticals business was up 19 per cent from a year earlier at Rs6.01 billion.