Stock Market update: Biocon Ltd shares up by almost 4% post Q3 results

Stocks of Biocon Limited surge by 3.91% to Rs 371.50 per equity share against the previous close at Rs 364 per share, in today’s early trade.

The shares of an Indian biopharmaceutical company, Biocon Limited that is based in Bangalore surged by 3.91% at Rs 371.50 per share against the previous close at Rs 364 per share, today’s early trade. The trade opened at Rs 364.00 per equity share representing a decrease of 0.05% and hitting a high of Rs 374.00 per unit.

On Thursday, Biocon Limited released its financial results report for the quarter ending December 2021 and reported a net profit of Rs 219.6 crores as compared to Rs 186.6 crores the previous year representing a 17.68% YoY growth rate. Consolidated total income in the third quarter this fiscal stood at Rs 2,222.5 crore as compared to Rs 1,885.3 crore in the same quarter the period year.

Biosimilars vertical had a revenue of Rs 981.4 crore as compared to Rs 768.9 crore in the same quarter last fiscal, while the generics segment had a revenue of Rs 607.4 crore as against Rs 567.1 crore earlier, the filing said.

The company further said its research services reported a revenue of Rs 641.4 crore in the third quarter as against Rs 584.5 crore in the same period during the previous year. Lastly, the total expenses during the period under review stood at Rs 1,906.4 crore as against Rs 1,648.7 crore in the year-ago quarter.

Biocon Limited is India’s leading biopharmaceutical company that manufactures active pharmaceutical ingredients (APIs) that are sold in over 120 countries across the globe. The total annual revenue of Biocon Limited FY2021 stood at Rs 7,360.30 crores as compared to Rs 6461.90 crores the previous year.


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