Licensing deals help Biocon post healthy Q3 nos

BANGALORE: Biocon's third quarter consolidated net profit rose 24% to 100.75 helped by inflows from licensing deals with global biggies Pfizer and Mylan and growth in the biopharmaceutical business.


Bangalore-based Biocon's revenue climbed 15% to 738 crore while margins expanded to 24% from 20% in the year-ago period.


"Biocon has delivered the highest-ever profit this quarter and this marks an important milestone which will enable us to invest in advancing our research programmes and expanding our marketing and manufacturing partnerships," chairman and managing director Kiran Mazumdar Shaw said. "Hope now that markets understand that Biocon is no longer a player on the fringes," she added.


The company's revenues grew due to licensing deals, biopharmaceuticals and research services. The results have also been boosted by licensing income. "Out of a profit of 100 crore, if you remove the licensing income of 77 crore, the results look muted," said an analyst with a domestic brokerage in Mumbai who did not wish to be quoted.


The biopharmaceutical business posted a 15% increase in revenue to 649 crore. Last quarter the biopharma division had clocked in 601 crore. The branded formulations segment posted a 32% growth.