Biocon hits record high

Biocon gained 1.19% to Rs 571 at 10:00 IST on BSE after the consolidated net profit rose 79.1% to Rs 360.90 crore on 17.42% rise in total income to Rs 1003.50 crore in Q4 March 2016 over Q4 March 2015.

The result was announced before market hours today, 27 April 2016.

Meanwhile, the S&P BSE Sensex was down 14.15 points or 0.05% at 25,993.15.

On BSE, so far 56,744 shares were traded in the counter as against average daily volume of 82,472 shares in the past one quarter. The stock hit a high of Rs 581.20, which is also a record high for the stock. The stock hit a low of Rs 568 so far during the day. The stock had hit a 52-week low of Rs 396.50 on 25 August 2015. The stock had outperformed the market over the past one month till 26 April 2016, rising 21.7% compared with Sensex's 2.64% rise. The scrip had also outperformed the market in past one quarter, gaining 15.48% as against Sensex's 6.21% rise.

The large-cap company has equity capital of Rs 100 crore. Face value per share is Rs 5.

Biocon's earnings before interest, tax, depreciation and amortization (EBITDA) margin remained unchanged at 24% in Q4 March 2016 compared with Q4 March 2015. Net exceptional income jumped 155% to Rs 268 crore in Q4 March 2016 over Q4 March 2015. The newly signed co-development agreement for rh-insulin with Lab PiSA changes the nature of Biocon's future obligations on the rh-insulin program. Hence, the previously deferred amounts of Rs 268 crore has been recognized as an exceptional income in Q4 March 2016.

Biocon is India's largest and fully-integrated, innovation-led biopharmaceutical company.

Powered by Capital Market - Live News