Bangalore, July 23 - Biotech major Biocon has posted a net profit of Rs.47.6 crore for the first quarter this fiscal, registering a 59 percent year-on-year (YoY), the company said Thursday.

Total income for the quarter under review, however, grew only nine percent YoY to Rs.259 crore from Rs.237 crore in the like period a year ago, the company said in a regulatory filing.

As a group, the net profit soared 283 percent YoY to Rs.57.6 crore for the first quarter from Rs.15 crore.

Similarly, the group's total income increased 83 percent YoY to Rs.505 crore from Rs.277 crore.

Group companies include the recently acquired German subsidiary AxiCorp.