Biocon share price shed over 2 percent intraday on July 24 after the company posted its June quarter numbers.
The company has posted 28 percent fall in its June quarter (Q1FY21) net profit at Rs 149 crore due to higher R&D spend, lower profit share in the biosimilars business, and lower profitability in the research services segment.
The company had posted a profit of Rs 206 crore in the year-ago period.
Revenue from operations rose 15 percent to Rs 1,671 crore versus Rs 1,459 crore.
Earnings before Interest, tax, depreciation and amortization (EBITDA) for the quarter stood at Rs 432 crore and EBITDA margin was at 26 percent.
“It has been a breakthrough quarter for Biocon as we made a significant contribution to the global efforts aimed at addressing the pandemic through our innovative science,” Executive Chairperson Kiran Mazumdar-Shaw said.
At 1021 hours, Biocon was quoting at Rs 421.05, down Rs 9.25, or 2.15 percent on the BSE.
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