Biocon slumps as Q4 cons profit disappoints
Q4 consolidated operating profit declined by 21% to Rs 124 crore on year-on-year basis.
Biocon has dipped 4% to Rs 278 after reporting 21% year-on-year (yoy) drop in its consolidated operating profit at Rs 124 crore for the quarter ended March 2013 (Q4) due to higher material, power and staff cost.
The company’s operating or EBIDTA margin contracted by 540bp to 19.68% from 25.08% during the recently concluded quarter.
Meanwhile, the biotechnology company has posted a net profit of Rs 249 crore for the quarter mainly due to an exceptional income of Rs 202 crore.
Biocon during the past quarter received a $20 million one-time inflow from one of its partners - Mylan, as both the companies expanded the scope of partnership to incorporate generic insulin analogs.
The company’s total sales grew 7% at Rs 630 crore on yoy basis, while manufacturing, staff and other expenses increased by 13% to Rs 525 crore over the previous year.
The stock opened at Rs 287 and hit a low of Rs 277 on NSE. A combined 687,290 shares have changed hands on the counter till 1215 hours on NSE and BSE.
The company’s operating or EBIDTA margin contracted by 540bp to 19.68% from 25.08% during the recently concluded quarter.
Meanwhile, the biotechnology company has posted a net profit of Rs 249 crore for the quarter mainly due to an exceptional income of Rs 202 crore.
Biocon during the past quarter received a $20 million one-time inflow from one of its partners - Mylan, as both the companies expanded the scope of partnership to incorporate generic insulin analogs.
The company’s total sales grew 7% at Rs 630 crore on yoy basis, while manufacturing, staff and other expenses increased by 13% to Rs 525 crore over the previous year.
The stock opened at Rs 287 and hit a low of Rs 277 on NSE. A combined 687,290 shares have changed hands on the counter till 1215 hours on NSE and BSE.