Shares of Biocon
slipped ~1% on the NSE in morning trade on Friday despite posting good Q3 numbers. The company’s revenue in Q3FY19 grew by 45.6% yoy to Rs1,540.8cr vs. Rs1,057.9cr in Q3FY18.
PAT increased by 136.3% yoy to Rs217.2cr in Q3FY19 vs. Rs91.9cr in Q3FY18.
Revenue from the small molecules segment grew 27.1% yoy to Rs468.9cr, while biologics revenue grew by 136.4% yoy to Rs448.6cr.
Biologics revenue received a strong growth thrust due to ramp-up of Fulphila.
Biocon Ltd is currently trading at Rs666.15 down by Rs4.4 or 0.66% from its previous closing of Rs670.55 on the BSE.
The scrip opened at Rs682 and has touched a high and low of Rs682.85 and Rs656.70 respectively.