The company beat all estimates for Q2FY13 and posted a set of very good numbers for Q2FY13. It reported a 5%(YoY) and 14% (QoQ) jump in net profit at Rs.60 crore. Its total revenue, YoY rose 19%, led by a 425 growth in branded formulation in India, 39% in contract research and 8% in its main fray, biopharma’s. It is heartening to note that its interest charges have come down 39% and stands at just Rs.1 crore. Tax outgo rose by a sharp 62%.

It is also good to note that the company’s spend on R&D is rising, up 54% (YoY) in H1FY13 as it is an investment for the future. The market is especially enthused by the fact that GE Capital, financial services arm and subsidiary of GE Corporation, has signed an agreement with GE Equity International Mauritius. It will make a primary equity investment in Biocon’s research services subsidiary, Syngene.  And as per the agreement, GE Capital will take a 7.69% stake in the company by investing Rs.125 crore. It is good news that a conglomerate like GE is taking stake in the company and with the good performance, the company seems set for a good FY13.