Concord Biotech shares were locked in 20 percent lower circuit in February 14 trade after the weak third quarter results for the current fiscal.
The shares of Concord Biotech Ltd. dropped 20 percent to an intraday low of Rs 1,689.4 per share on the NSE. The stock opened with a loss of 5.29 percent. The scrip has been falling for the last five trading sessions, with its market cap dropping to Rs 17,673.86 crore on the NSE.
The company reported that its consolidated net profit declined 2.19 percent to Rs 75.9 crore in the December 2024 quarter. The company had reported Rs 77.6 crore profit in the same period a year ago, according to an exchange filing by the company. Meanwhile, the company's revenue for the quarter under review stood at Rs 244.2 crore as against Rs 240.8 crore, increasing marginally by 1 percent.
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