July 26, 2018 / 1:53 PM / in 4 months

Biocon June-quarter profit jumps 47 percent, beats estimates

File Photo: An employee of Biocon Ltd works inside the company's research and development centre in Bengaluru, India, October 16, 2015. REUTERS/Abhishek N. Chinnappa

(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

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