Biocon gains nearly 6% on robust Q1 show

The gross spend on research and development rose 78 percent YoY to Rs 79 crore.

Shares of Biocon gained nearly 6% in the early trade on July 26 after the company reported robust numbers for the quarter ended June 2019 (Q1FY20).


The company reported an 86 percent year-on-year (YoY) jump in net profit at Rs 223 crore for the quarter ended June led by growth of biosimilars and small molecules businesses.

The company reported a net profit of Rs 120 crore in the year-ago period.

Total revenue for the quarter grew 25 percent to Rs 1,466 crore in the April-June period, Biocon said in a statement.

Also Read - Biocon Q1 net profit zooms 86% to Rs 223 crore led by biosimilars, small molecules segments

The gross spend on research and development rose 78 percent YoY to Rs 79 crore.

EBITDA stood at 31 percent for Q1FY20 compared to previous year’s 26 percent.

At 09:22 hrs Biocon was quoting at Rs 247, up to Rs 8.45, or 3.54 percent on the BSE.

The share touched its 52-week high Rs 359.18 and 52-week low Rs 230 on 26 September 2018 and 08 July 2019, respectively.

Currently, it is trading 31.23 percent below its 52-week high and 7.39 percent above its 52-week low.

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