Biocon stock slips ~1% despite strong Q3 numbers

The company’s revenue in Q3FY19 grew 45.6% yoy to Rs1,540.8cr vs. Rs1,057.9cr in Q3FY18.

Jan 25, 2019 05:01 IST India Infoline News Service

Biocon Limited
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.

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