Biocon shares slump on earnings disappointment

Jan 23 2014, 18:19 IST
Comments 0
Biocon said its December-quarter consolidated net profit rose 14 percent to 1.05 billion rupees. Reuters Biocon said its December-quarter consolidated net profit rose 14 percent to 1.05 billion rupees. Reuters
SummaryShares in India's Biocon Ltd slump 5 percent after earnings disappointed some investors.

Shares in India's Biocon Ltd slump 5 percent after earnings disappointed some investors.

Biocon said on Wednesday its December-quarter consolidated net profit rose 14 percent to 1.05 billion rupees ($16.98 million).

Some analysts cited disappointment over operating margins, with Kotak Institutional Equities expressing concerns about research and development margins.

"R&D margin at 2.9 percent is the lowest in the past several quarters, which raises concerns on sustainability of the margin improvement," it said in a report.

Investors are also locking profits after the stock jumped 8.5 percent in the previous three sessions.

Ads by Google
Reader´s Comments
| Post a Comment
Please Wait while comments are loading...