Biocon shares decline over 6 pc after Q2 earnings

Shares of Biocon on Friday dipped over 6 per cent after the company's net profit declined 18 per cent for the second quarter ended September.

The stock tumbled 6.13 per cent to close at Rs 323.95 on BSE. During the day, it tanked 6.54 per cent to its 52-week low of Rs 322.50. On NSE, it declined 6.13 per cent to settle at Rs 323.80.

In volume terms, 5.29 lakh shares were traded on BSE and over 72.24 lakh on NSE.

Biotechnology major Biocon on Friday said its consolidated net profit declined 18 per cent to Rs 138 crore for the second quarter ended September.

The Bengaluru-based company had reported a net profit of Rs 169 crore in the July-September quarter of the previous fiscal.

Revenue from operations, however, increased 5 per cent in the second quarter to Rs 1,840 crore from Rs 1,750 crore in the year-ago period, Biocon said in a statement.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)