Biocon Ltd. shares climbed nearly 3% in early trade on Thursday after the biopharmaceutical company reported a sharp jump in its first-quarter earnings, driven by steady growth across its core biopharma businesses.
The stock was trading at Rs 434.1 apiece on NSE around 11 am today, gaining from its previous close at Rs 425.2.
Investors are tracking whether the company's biosimilars and generics businesses can continue to support earnings momentum in the coming quarters.
Profit Soars Nearly 350%
Biocon reported a consolidated net profit of Rs 141 crore for the quarter ended June 30, marking a 348.4% increase from Rs 31.4 crore in the corresponding period last year.
Revenue from operations rose 10% year-on-year to Rs 4,336 crore, compared with Rs 3,942 crore a year earlier. The company's operating performance also remained stable, with Ebitda (earnings before interest, taxes, depreciation, and amortisation) margin at 19.53% during the quarter, against 19.43% a year ago.
Biocon said its biosimilars and generics businesses remained the key contributors to quarterly performance, helping offset broader industry challenges and supporting revenue growth.
Also Read: Biocon Q1 Results: Profit Spikes 350%, Revenue Exceeds Rs 4,300 Crore
Stock Movement
The stock has been steadily gaining over three years now. During the period, the stock surged more than 71%, and in the past year, it has gained over 20%.
Currently, the stock is trading at a price-to-earnings multiple of 166.4 times, with a market cap of Rs 70,476 crore as of its preceding session's end.
Also Read: 300% Return In Five Years: This Stock Tumbles Over 4% In Trade Today — Here's Why
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