Biotechnology major Biocon today posted a 9.38 per cent increase in its consolidated net profit at Rs 92.81 crore for the third quarter ended December 31, 2012.

The company had posted a net profit of Rs 84.85 crore during the same period of previous fiscal.

Net sales of the company rose to Rs 634.22 crore for the third quarter, as against Rs 516.59 crore during the same period of 2011-12 fiscal.

"We have performed well across all our business verticals. We continue to gain market share for biosimilar insulins in ROW (rest of the world) markets which now accounts for a significant part of our business," Biocon Chairman and Managing Director Kiran Mazumdar-Shaw said in a statement.

Shares of Biocon were trading at Rs 266 on the BSE in the afternoon trade, up 0.89 per cent from its previous close.