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Biocon up over 5% post Q1 results, EMA review of Biosimilar

The stock surged 7% to Rs 749 after the company reported 35% YoY jump in its consolidated net profit of Rs 167 crore in Q1.

SI Reporter  |  Mumbai 

Biocon has surged 7% to Rs 749 on the BSE after the company reported 35% year-on-year (YoY) jump in its consolidated net profit of Rs 167 crore for the first quarter ended June 30, 2016 (Q1FY17). The biopharma company had registered a profit of Rs 124 crore in the year ago quarter. Total revenue recorded a healthy growth of 21% YoY at Rs 982 crore against Rs 814 crore in the corresponding quarter of previous fiscal. Commenting on the quarterly performance Kiran Mazumdar-Shaw, chairperson and managing director of Biocon said the strong performance this quarter has been driven ...

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