Mumbai, April 30 (IANS): Bengaluru based bio-pharmaceutical company Biocon on Thursday said its consolidated net profit rose by 20.23 percent to Rs.497.43 crore for fiscal 2014-2015 compared to the profit of Rs.413.72 crore in 2013-14.

The company's consolidated net revenue for the period under review stood at Rs.3,089.81 crore against Rs.2,877.31 crore in implying an increase of 7.39 percent.

Its net profits during January-March 2015 surged by a whopping 78 percent at Rs.201.54 crore of which Rs. 105 crores came in as a result of the sale of its stakes in Syngene. The profits during January-March 2014 was registered at Rs. 90.93 crore.

In a statement, chief managing director Kiran Mazumdar-Shaw said: "As we move into the fiscal year 2016, 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 Research and Development as a strong future value driver."