Q1FY22 Result Update - Biocon Ltd - ICICI Direct

Biocon reported weak Q1FY22 results.

- Revenue was up 5.3% YoY to Rs. 1760.6 crore

- EBITDA in Q1FY22 was Rs. 389.3 crore, down 5.8% YoY with margins at 22%

- Consequent PAT was at Rs. 84.4 crore (down 43.5% YoY)

Key triggers for future price performance

- Interchangeability approval of insulin glargine

- Marketing authorisation for bBevacizumab in Australia & UK

- Approval of bBevacizumab and insulin Aspart in the US

- Ramp up of market shares in existing biosimilars, geographical expansion

- Syngene Mangalore customer validations and approvals

For details, click on the link below: Link to the report

Shares of BIOCON LTD. was last trading in BSE at Rs. 397.5 as compared to the previous close of Rs. 402.8. The total number of shares traded during the day was 167196 in over 3312 trades.

The stock hit an intraday high of Rs. 401.45 and intraday low of 387.9. The net turnover during the day was Rs. 66519383.

Source : Equity Bulls

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