Biocon, a leading biotechnology company, reported a sharp rise in consolidated net profit for the quarter ended Mar. 31, 2015. During the quarter, the profit of the company rose 78.76% to Rs 2.02 billion from Rs 1.13 billion in the same quarter previous year.

In Q4, Syngene has posted its strongest quarterly performance to date recording sales of Rs 2.38 billion and delivering 27% growth YoY.

Net sales for the quarter rose 14.61% to Rs 8.55 billion, compared with Rs 7.46 billion for the prior year period.

Commenting on the quarterly performance and highlights, chairman and managing director, Kiran Mazumdar-Shaw stated, ''Biocon closed the year with a stronger performance in Q4 on the back of a record quarterly performance by our Research Services subsidiary, Syngene and an improved performance of our Biopharma business. We also recognized  exceptional income from the sale of shares of Syngene. As we move into FY16, we are clearly seeing our biosimilar strategy playing out with greater clarity, credibility and traction visible across our portfolio of Biologics as they advance in clinical development. We continue to make investments in R&D as a strong future value driver. The Malaysia insulins facility has been commissioned, which once qualified, should provide us the scale to increase our presence and penetration in emerging markets and then in developed markets.''

Shares of the company gained Rs 11.75, or 2.65%, to trade at Rs 454.70. The total volume of shares traded was 51,827 at the BSE (9.52 a.m., Thursday).