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Biocon has dipped 5% to Rs 492 after its flagship biopharma business, which contributes close to 75% of the revenues, grew by hardly 1% year-on-year (yoy) at Rs 549 crore for the quarter ended June 30, 2014 (Q1) against Rs 543 crore in year ago quarter.
The biopharma business was impacted due to various external factors including the ongoing geo-political conflicts in West Asia and North Africa, affecting the growth of this business, Biocon said in a statement.
Meanwhile, the company has reported a decent 9% yoy growth in net profit to Rs 103 crore for the first quarter of FY15 as compared to the corresponding quarter of last fiscal, despite a tepid growth of 3% in sales to Rs 742 crore.
Analysts on an average had expected profit of Rs 109 crore on sales of Rs 766 crore for the quarter. The stock opened at Rs 505 and hit a low of Rs 484 on NSE. A combined 1.67 million shares changed hands on the counter till noon deals on NSE and BSE.
The biopharma business was impacted due to various external factors including the ongoing geo-political conflicts in West Asia and North Africa, affecting the growth of this business, Biocon said in a statement.
Meanwhile, the company has reported a decent 9% yoy growth in net profit to Rs 103 crore for the first quarter of FY15 as compared to the corresponding quarter of last fiscal, despite a tepid growth of 3% in sales to Rs 742 crore.
Analysts on an average had expected profit of Rs 109 crore on sales of Rs 766 crore for the quarter. The stock opened at Rs 505 and hit a low of Rs 484 on NSE. A combined 1.67 million shares changed hands on the counter till noon deals on NSE and BSE.
