Biocon, a leading domestic biotech firm, delivered a 33.5% (YoY) rise in Q1FY11 Net Sales to Rs 662.3 crore with Biopharmaceuticals division remaining the key growth driver. However, lower profitability of contract research business dragged EBITDA margin by 80 bps to 20.8%.Meanwhile, higher weighted deduction on R&D expenditure resulted in a marginal hike of 20 bps (YoY) in Q1FY11 Net Margin to 12.0%. The net profit was up 33% yoy to Rs 76.7 cr from Rs 57.6 cr registered in Q1FY2010.