Biocon shares jump 4% on turning profitable in Q2

Shares of biotechnology major Biocon today rose 4 per cent after the company reported a consolidated net profit of Rs 146.7 crore for the second quarter ended September 30, 2016.

On BSE, it jumped 4 per cent to Rs 1,020 -- its 52-week high.

The company had posted a net loss of Rs 10.6 crore in the corresponding period of the previous fiscal, Biocon said in a BSE filing yesterday.

Consolidated total income from operations rose to Rs 954.1 crore for the quarter under consideration from Rs 796.2 crore in the same period a year ago.

Commenting on the development, Biocon Chairperson and MD Kiran Mazumdar-Shaw said: "Our performance in Q2 FY17 was led by strong growth across small molecules, biologics and research services.