Biocon shares up nearly 2% post Q1 results

Shares of biotechnology major Biocon today ended nearly 2 per cent higher after the company reported a 23 per cent growth in consolidated net profit for the quarter ended June 30, 2015.
The stock ended the day with a gain of 1.66 per cent at Rs 466.15 on the BSE. During the day, it went up by 4.24 per cent to Rs 478.
On the NSE, shares of the company was up 1.53 per cent to close at Rs 465.80.
In terms of volume, 3.15 lakh shares of the company changed hands on the BSE and
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.