Biocon rose 1.5% at Rs 463.80 at 09:58 IST on BSE after consolidated net profit jumped 200% to Rs 306 crore on 12% growth in total revenue to Rs 861 crore in Q2 September 2015 over Q2 September 2014.
Biocon announced the second quarter results before trading hours today, 21 October 2015.
Meanwhile, the BSE Sensex was up 71.93 points, or 0.26%, to 27,378.76
On BSE, so far 56,381 shares were traded in the counter as against average daily volume of 67,075 shares in the past one quarter.
The stock hit high of Rs 465.50 and low of Rs 456.10 so far during the trading session. The stock had hit 52-week high of Rs 495.70 on 15 April 2015. The scrip had hit 52-week low of Rs 396.50 on 25 August 2015.
The mid-cap company has an equity capital of Rs 100 crore. Face value per share is Rs 5.
Biocon's Q2 September 2015 consolidated net profit includes an exceptional income (net) of Rs 203 crore (IPO receipts net of IPO expenses and tax, book value adjustment for 11% Syngene stake dilution and impairment charge for Itolizumab). Adjusting for exceptional income and associated tax, consolidated net profit was Rs 103 crore, Biocon said.
Biocon's EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) rose 18% to Rs 222 crore in Q2 September 2015 over Q2 September 2014. EBITDA margin was reported at Rs 26% in Q2 September 2015, higher than 24% reported in Q2 September 2014.
Segmentwise, the biopharmaceutical segment grew 4% to Rs 578 crore in Q2 September 2015 over Q2 September 2015. In research services segment, business performance was driven by strong growth across its three verticals -discovery services, dedicated centers and development and manufacturing services. The business momentum in research services segment is expected to continue in second half of the year ending 31 March 2016, Biocon said
Commenting on the Q2 September 2015 result, Chairperson and Managing Director, Kiran Mazumdar-Shaw stated it was a stable performance for Biocon this quarter with several growth triggers on the horizon focusing on Biosimilars in emerging markets. The company's renewed focus on key brands has improved profitability of branded formulations business, Kiran Mazumdar-Shaw said. The company expects the clinical progress in Biosimilars and Novels to augur well for the company, going forward, she added.
Biocon is India's largest and fully-integrated, innovation-led biopharmaceutical company.
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