Biocon announced that its board is scheduled to meet on 4 April 2025 to consider raising funds through issuance of commercial papers (CP) or through any other mode via private placement basis.
The announcement was made after market hours yesterday.Biocon is an innovation-led global biopharmaceuticals company engaged in the production of therapies for chronic conditions like diabetes, cancer, and autoimmune diseases. It has developed and commercialized novel biologics, biosimilars, and complex small-molecule APIs in India and several key global markets, as well as generic formulations in the US, Europe, & key emerging markets. It also has a pipeline of promising novel assets in immunotherapy under development.
The company had reported a consolidated net profit of Rs 25 crore in Q3 FY25, which is significantly lower as compared with the PAT of Rs 660 crore posted in Q3 FY24. Revenue from operations fell by 3% YoY to Rs 3,821 crore during the period under review.
The scrip shed 0.60% to end at Rs 339.15 on Tuesday, 1 April 2025.
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