(Reuters) - India’s Biocon Ltd reported a 47 percent rise in June-quarter profit on Thursday, helped by higher income from its biologics and research services businesses.
Net profit rose to 1.20 billion rupees ($17.48 million) for the quarter ended June 30, from 813 million rupees last year, India’s largest biotechnology company said in a statement.
Revenue from operations rose 20.4 percent to 11.24 billion rupees.
Analysts on average were expecting a net profit of 1.17 billion rupees, according to Thomson Reuters I/B/E/S.
($1 = 68.6550 Indian rupees)
Reporting by Sharnya G and Chris Thomas in Bengaluru; Editing by Supriya Kurane