1. Biocon share price gains on reporting 3-fold jump in Q2 consolidated net profit

Biocon share price gains on reporting 3-fold jump in Q2 consolidated net profit

Biocon share price gained as much as 1.87 per cent in the early trade on Wednesday after the biotechnology major on Tuesday after market hours reported an over three-fold jump in its consolidated net profit at Rs 306 crore for the second quarter ended September 30, 2015.

By: | Updated: October 21, 2015 5:07 PM
Sensex Nifty Biocon

Biocon share price gained as much as 1.87 per cent in the early trade on Wednesday after the biotechnology major on Tuesday after market hours reported an over three-fold jump in its consolidated net profit at Rs 306 crore for the second quarter ended September 30, 2015. (Express Photo)

Biocon share price gained as much as 1.87 per cent in the early trade on Wednesday after the biotechnology major on Tuesday after market hours reported an over three-fold jump in its consolidated net profit at Rs 306 crore for the second quarter ended September 30, 2015. The company registered a net profit of Rs 102 crore in the same period a year ago.

At 10.09 am, Biocon share price was trading 1.53 per cent up at Rs 463.95. The scrip opened at Rs 464 and had touched a high and low of Rs 465.50 and Rs 456.10, respectively, in trade so far. Sensex was up 97.78 points at 27,404.61.

Later, the scrip closed 1.05 per cent at Rs 452.15.

On a standalone basis, the company registered over two fold jump in its net profit at Rs 498.64 crore for the second quarter ended September 30, 2015 as compared to Rs 181.52 crore for the same quarter in the previous year. However, the company’s total income decreased by 12.14 per cent to Rs 598.86 crore for the quarter under review from Rs 681.57 crore for the corresponding quarter of the previous year.

The BSE group ‘A’ stock of face value Rs 5 has touched a 52 week high of Rs 495.70 on 15-Apr-2015 and a 52 week low of Rs 396.50 on 25-Aug-2015.

Last one week high and low of the scrip stood at Rs 465.50 and Rs 438.80 respectively. The current market cap of the company is Rs 9,174 crore.

The promoters holding in the company stood at 61.02 per cent while institutions and non-institutions held 19.21 per cent and 19.76 per cent respectively.

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