Biocon - Q2FY21 - Angel Broking

Mr. Yash Gupta - Equity Research Associate, Angel Broking Ltd

Biocon Limited revenue from operations for Q2FY21 stood at ₹1,744 crores up by 11.3% YoY from ₹1,567 crores in Q2FY20. Biosimilars business has done well for the company which is up by 11.4% stood at ₹676 crores in Q2FY21 from ₹607 crores in Q2FY20 while Generic business up by 8.3% in Q2FY21 stood at ₹599 crores in Q2FY21 as compared to 553 crores in Q2FY20. Profit before tax for the quarter down by 38.7% at ₹223 crores in Q2FY21 as compared to ₹363 crores in Q2FY20. Profit after tax for the quarter down by 23% at ₹195 crores in Q2FY21 as compared to ₹254 crores in Q2FY20. Company has reported results inline with expectation.

Shares of BIOCON LTD. was last trading in BSE at Rs.429.5 as compared to the previous close of Rs. 439.8. The total number of shares traded during the day was 128318 in over 3321 trades.

The stock hit an intraday high of Rs. 441.6 and intraday low of 427.6. The net turnover during the day was Rs. 55492197.

Source : Equity Bulls

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