New Delhi, Feb 8 (PTI) Biotech firm Biocon on Thursday reported a consolidated net profit of Rs 660 crore for the third quarter ended December 31, 2023, on the back of robust sales.

The company had reported a net loss of Rs 42 crore in the October-December period of last fiscal.

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Total revenue rose to Rs 4,519 crore in the third quarter as against Rs 3,020 crore in the year-ago period, Biocon Ltd said in a statement.

"A key milestone this quarter was the successful conclusion of the transition of the acquired business by Biocon Biologics and a pre-payment of USD 200 million towards the acquisition-related debt reduction," Biocon Executive Chairperson Kiran Mazumdar Shaw said.

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Steady market shares for key biosimilars in the US and EU were complemented by the emerging markets performance which saw a number of new product launches and tender wins, she added.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)