The company's net sales grew by 15 percent at Rs 857 crore for the period under review as compared to Rs 742 crore in the year-ago period, Biocon Ltd said in a statement.

"The strong performance this quarter reflects the overall growth of our business backed by a combination of product sales and monetisation of R&D assets through licensing," Biocon Chairperson and Managing Director Kiran Mazumdar-Shaw said.

She said that during the quarter, the company successfully licensed biosimilar "Trastuzumab" in key emerging markets.

"Our insulins business was boosted with the launch of insulin Glargine in Mexico and Colombia. Our focus on key brands in branded formulations has begun to translate into a better quality of earnings," she added.

Further, the company said that it has appointed Narendra Chirmule as the Head of R&D. He has taken over from Abhijit Barve, who has moved back to the US for personal reasons.The company has established a new entity - Biocon PharmaLtd, to support finished dosage of generic business. "Our insulins drug product facility in Malaysia, underwent a cGMP audit by the National Pharmaceutical Control Bureau (NPCB), Malaysia.

We expect to receive the formal certification in a few weeks. This will be followed by theinitiation of the validation batches for the drug product," it added.

Shares of the company closed 0.45 percent down at Rs 458.55 apiece on the BSE.