Biotechnology major Biocon on Friday announced that it had registered a 20.26 per cent increase in its net profit at Rs.89.22 crore in the second quarter ended September 30 against Rs.74.19 crore in the same quarter a year ago.

Total income during the quarter was up 17 per cent at Rs.679.94 crore (Rs. 581.09 crore).

In a statement, company Chairperson and Managing Director Kiran Mazumdar-Shaw said “all our core businesses have delivered robust performance in the first half of this fiscal and are expected to sustain this growth level in the rest of the year.''

She further said “(the company's) strategy of building and unlocking high value innovation in biotechnology has seen us enter into a new phase of growth. The recently announced global commercialisation alliance with Pfizer is a validation of this approach.''

Recently Biocon SA, a 100 per cent subsidiary of Biocon, had signed strategic agreement with Pfizer for worldwide commercialisation of Biocon's biosimilar versions of insulin and insulin analog products. For the six months, Biocon posted a net profit of Rs.165.95 crore (Rs.131.74 crore). The company's total income during the period also rose to Rs.1,343.66 crore (Rs. 1,079.54 crore).

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