Concord Biotech shares plunge 16% on reporting Q3 results; PAT down 2% YoY

Concord Biotech shares slumped 15.7 per cent in trade on BSE, logging an intraday low at Rs 1,777.7 per share. The stock declined after the company posted its Q3 results. 

 

Around 11:58 AM, Concord Biotech share price was down 14.51 per cent at Rs 1,803.9 per share on BSE. In comparison, the BSE Sensex was down 0.38 per cent at 75,848.04. The market capitalisation of the company stood at Rs 18,871.72 crore. The 52-week high of the stock was at Rs 2,658 per share and the 52-week low of the stock was at Rs 1,326.9 per share.

 

In Q3, Concord Biotech reported a 2 per cent decline in consolidated net profit to Rs 75.9 crore as compared to Rs 77.6 crore a year ago. The company's revenue for the quarter under review stood at 244.2 crore as against Rs 240.8 crore, rise of 1 per cent. 

 

The Earnings before interest, tax, amortisation and depreciation (Ebitda) stood at Rs 98 crore as compared to Rs 105.9 crore a year ago. Ebitda margin for the quarter ended December 31, 2024, stood at 40.1 per cent as compared to 44 per cent.  

 

Concord Biotech Limited is a research and development (R&D) driven biopharma Company that manufactures Active Pharmaceutical Ingredients (API) through fermentation & semi-synthetic process and finished formulations. Concord, founded in the year 2000 has transformed from a single-product company to a broad-spectrum solution provider, offering products across diversified therapeutic segments.

 

The company is globally known for its products and has a presence in more than 70 countries worldwide with efficient distribution infrastructure in markets like the USA, Europe, Japan, Latin America, Africa, Asia, besides significant presence in Indian market. Concord is actively expanding its horizons by partnering with leading global pharmaceutical companies by meeting their product development needs for APIs and finished formulations.  Concord has two API manufacturing units and one finished formulation unit, all located near Ahmedabad, Gujarat, India.

 

In the past one year, Concord Biotech shares have gained 50 per cent against Sensex's rise of 6 per cent.