Biocon shares gained as much as 2.2 per cent in the morning trade on Friday after the company announced 13.27 per cent rise in its consolidated net profit figures to Rs 103 crore for the quarter ended December 2015. The company posted net profit of Rs 90.93 crore in the corresponding quarter a year ago.
At 11.01 am, shares of Biocon were trading 1.09 per cent up at Rs 488.20. The scrip opened at Rs 487 and had touched a high and low of Rs 494 and Rs 476 respectively, in trade so far. Later, the scrip closed 0.17 per cent down at Rs 482.15.
Consolidated net sales of Biocon jumped 8.82 per cent year-on-year (yoy) to Rs 828.20 crore.
On a standalone basis, net profit of Biocon jumped 19.59 per cent yoy to Rs 68.50 crore for the quarter ended December 2015. The biotechnology company earned Rs 57.28 crore in the same quarter last year.
Biocon’s contract research arm Syngene International on Thursday reported 31.25 per cent rise in net profit to Rs 58.8 crore for the third quarter of 2015-16 financial year. Syngene posted a net profit of Rs 44.8 crore during the October-December period of previous fiscal. Shares of Syngene International closed 7.89 per cent up at Rs 396.60.