 "Strong prospects of Biologics business keep Street positive on Biocon")
A lower-than-expected performance by Biocon in the September quarter (Q2) saw its stock fall nearly 3 per cent to Rs 417 on Friday. It could have been worse, but analysts say the strong prospects of its biologics business lent comfort.
In Q2, revenue from operations grew by just 11 per cent year-on-year (YoY) to Rs 1,760 crore, falling short of Bloomberg consensus estimates of Rs 1,834 crore, due to slower-than-expected growth in biologics and research services.
Biologics sales at Rs 676 crore grew 11 per cent YoY. Though revenue was similar to Q1 at Rs 692 crore, the segment had posted 29
