Biocon shares jump 2.5 pc on robust Q3 show

Shares of biotechnology major Biocon today rose by 2.5 per cent after the company reported a 64.55 per cent rise in consolidated net profit for the third quarter ended December 31.
The stock gained 2.53 per cent to end at Rs 1,023.70 on BSE. During the day, it went up by 5 per cent to Rs 1,049.
On NSE, it rose by 2.36 per cent to close at Rs 1,022.60.
On the volume front, 2.29 lakh shares of the company were traded on BSE and over 31 lakh shares changed hands on NSE during the day.
Biocon yesterday reported a 64.55 per cent rise in consolidated net profit to Rs 171.3 crore for the third quarter ended December 31, led by robust growth of biologics business.

The company had posted a net profit after taxes, minority interest and share of profit from associates of Rs 104.1 crore for the corresponding period of the previous fiscal.
Consolidated total income from operations also rose to Rs 1,044.4 crore for the quarter under consideration as against Rs 807.1 crore for the same period year ago.