Biopharmaceutical major Biocon reported a modest 9 per cent growth in revenue, to Rs 719 crore, and a 15 per cent growth in profit, to Rs 105 crore, for the quarter ended December, over the same period a year ago.
The Bangalore-headquartered company has attributed the modest growth to its biopharmaceuticals business - comprising of small molecules, statins, and biosimilars - which grew 2 per cent. This segment constitutes close to 60 per cent of the company's overall revenue.
In response to the results, the share price on Thursday fell 5.7 per cent to Rs 451.65, after it reached a new 52-week high of Rs 497.40 during intra-day trade on Wednesday. Read more..
Source: Latest News in Hindi
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