Biocon’s Q4 Consolidated Profit Rose 1,202.58%; Stocks Rallied 5%!

Biocon Ltd, on a consolidated basis has reported a 1,202.58% rise in net profit for Q4FY23 to Rs 454.60 crore as compared to Rs 336.90 crore in the previous quarter same year and reported a rise of 34.94% YoY. The net sales of the company increased by 56.67% to Rs 3,773.90 crore as compared to Rs 2,408.80 crore in the same quarter previous year. The PBIDT (Excluding other income) of the company increased by 68.49% to Rs 997.30 crore as compared to Rs 591.90 crore in the same quarter last year. Biocon’s board also recommended a final dividend of Rs 1.50 per equity share of face value of Rs 5 each for the financial year ended March 31, 2023 

Biocon Limited is engaged in the manufacture of biotechnology products and research services. The Company is a public limited company incorporated and domiciled in India. The Company’s shares are listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) in India. 

The company is an innovation-led global biopharmaceutical company committed to enhancing affordable access to complex therapies for chronic conditions like diabetes, cancer and autoimmune diseases. It has developed and commercialized novel biologics, biosimilars and complex small molecule APIs in India and several key global markets as well as generic formulations in the US and Europe. It also has a pipeline of promising novel assets in immunotherapy under development. 

Biocon Ltd is currently trading at Rs 254.70, up by 12.45 points or 5.14% from its previous closing of Rs 242.25 on the BSE. The scrip opened at Rs 257.35 and touched a high and low of Rs 559.50 and Rs 251.75 respectively. So far 72,543 shares were traded on the counter.  

The BSE group ‘A’ stock of face value of Rs 5 touched a 52-week high of Rs 344 and a 52-week low of Rs 191.60. The promoters holding in the company stood at 60.64%, while Institutions and Non-Institutions held 22.09% and 17.25%, respectively.