Biocon shares surge over 4% as Q1 Net jumps

Shares of biotechnology major Biocon today rose over 4 per cent after the company reported 23 per cent growth in consolidated Net profit for the quarter ended June 30, 2015.
The stock surged 4.24 per cent to Rs 478 at the BSE.
On the NSE, it jumped 4.17 per cent to Rs 477.90.
Biocon yesterday reported 23 per cent growth in consolidated Net profit at Rs 126 crore for the April-June quarter compared to Rs 103 crore for the same quarter of 2014-15 fiscal.
The company's Net sales grew 15 per cent at Rs 857 crore for the period under review as compared to Rs 742 crore in the year-ago period, Biocon Ltd said in a statement.

"The strong performance this quarter reflects the overall growth of our business backed by a combination of product sales and monetisation of R&D assets through licensing," Biocon Chairperson and Managing Director Kiran Mazumdar-Shaw said.