Biocon  disclosed a substantial rise in consolidated net profit for the quarter ended June 2016.  During the quarter, the profit of the company rose 34.46% to Rs 1,666.00 million from Rs 1,239.00 million  in the same quarter previous year.

Revenues for the quarter  rose 20.70% to Rs 9,824.00 million, compared with Rs 8,139 million for the prior year period.

Operating margin for the quarter stood at 26.78 percent  as compared to 25.59 percent for the previous year period.  Operating Income for the quarter was Rs 2,631.00 million, compared with Rs 2083 million in the previous year period.

Earnings per share for the quarter stood at Rs 8.46, registering 34.29% growth over previous year period.

Kiran Mazumdar-Shaw, chairperson and managing director, said, ''Our strong performance this quarter has been driven by an all- round growth of our business across Small Molecules, Biologics, Branded Formulations and Research Services. Our Biologics business delivered a growth of 53% driven by the sales of biosimilars in emerging markets. The submission of Pegfilgrastim, our first biosimilar filing in EU, is a critical milestone this quarter. Our Insulins business made a mark with the launch of Insulin Glargine in Japan. In addition we received regulatory approvals from MoH, Malaysia, for rh-Insulin and Glargine which will enable commercialization of these products. We are on track for filing some of our Biosimilars and Generic Formulations in the developed markets later this year.''