Biocon spurts after strong Q1 results

Biocon rose 9.11% to Rs 610.05 at 11:35 IST on BSE after consolidated net profit rose 47.23% to Rs 119.70 crore on 21.18% increase in net sales to Rs 1123.80 crore in Q1 June 2018 over Q1 June 2017.

The result was announced after market hours yesterday, 26 July 2018.

Meanwhile, the S&P BSE Sensex was up 289.84 points, or 0.78% to 37,274.48.

On the BSE, 5.83 lakh shares were traded in the counter so far compared with average daily volumes of 1.17 lakh shares in the past two weeks. The stock had hit a high of Rs 613.40 and a low of Rs 570.75 so far during the day. The stock hit a record high of Rs 695 on 5 June 2018. The stock hit a 52-week low of Rs 318.85 on 17 August 2017.

 

Consolidated EBITDA (earnings before interest, taxes, depreciation and amortization) rose 25% to Rs 307 crore in Q1 June 2018 over Q1 June 2017.

Biocon is a fully-integrated global biopharmaceutical company.

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