New Delhi: For the first quarter concluded June 30, 2016 Biocon shares on Friday increased over 6 per cent in the early buy and sell subsequent to the corporation accounted 34.46 per cent augment in merge net profit at Rs 166.60 crore on the back of strong expansion in biologics and branded formulations. It had accounted net profit of Rs 123.90 crore in the similar quarter previous year. Consolidated topline of the Bangalore-based firm increased 28.25 per cent to Rs 952 crore for the primary quarter, as compared to Rs 857 crore throughout the same period of the preceding fiscal year.
In another BSE filing, the corporation declared that the European Medicines Agency (EMA) has accepted for review Mylan’s Marketing Authorization Application (MAA) for proposed biosimilar Pegfilgrastim, which is used to decreased the duration of neutropenia for cancer patients. On standalone basis, net profit of the comany jumped 38.90 per cent year-on-year to Rs 141.40 crore for the quarter beneath review against Rs 101.80 crore in the similar quarter previous year. Gross sales of the comapny grew 24.27 per cent on year-on-year basis to Rs 645.60 crore. Shares of Biocon were buying and selling 6.03 per cent up at Rs 743.80. The scrip commenced the day at Rs 719.80 and has touched a elevated and low of Rs 744.90 and Rs 712, correspondingly.