Biocon Q2 net up 5 pc at Rs 90 cr

Beating expectations, Biocon on Wednesday posted 4.6 per cent jump in its consolidated net profit to Rs 89.65 crore for the second quarter ended September 30, 2012.

The company had posted a net profit of Rs 85.70 crore in the same period of previous fiscal, Biocon said in a filing to the BSE.

The net sales of the company rose to Rs 592.40 crore for the second quarter from Rs 505.39 crore in the same period of 2011-12 fiscal.

The Bangalore-headquartered company also said GE Equity International Mauritius, a subsidiary of GE Capital, will make a private equity investment in Syngene International to the tune of Rs 125 crore, for a 7.69 per cent equity share.

Syngene International is the research services arm of Biocon.

Shares of Biocon were trading at Rs 267.50 on the BSE in the morning, up 3.30 per cent from its previous close.

With PTI inputs