India's largest biotechnology firm, Biocon Ltd., sees strong growth in the current fiscal year on new drug discovery and large research outsourcing services contracts, its chief said on Thursday.
"We are poised for a very steady and strong growth... our discovery programmes are making very good progress and obviously we will be licensing many of these programmes as we go forward," chairman and managing director Kiran Mazumdar-Shaw told Reuters.
Bangalore-based Biocon earlier reported a 46 percent jump in its net profit to 472.9 million rupees in the March quarter. Consolidated net profit, which includes subsidiaries of the group, rose 27 percent to 607 million rupees.
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