Biocon stock slides on poor Q3 results, exit of biologics arm's MD

The stock markets on Friday reacted negatively to Biocon’s weak third quarter results, coupled with the sudden exit of its biologics’ Managing Director Christiane Hamacher over “professional differences” with the chairperson. 

From its previous close of Rs 441.95 apiece on Thursday, the stock closed 10.89 per cent or Rs 48.15 lower at Rs 393.80, on Friday.

Biocon took a near-19 per cent hit on a year-on-year (YoY) basis on its consolidated net profit at Rs 186.6 crore for Q3, owing to a dip in its generics business and headwinds across operational, regulatory, and commercial functions. 

Consolidated revenue for Q3 increased by 7.20 per