Biocon net profit falls due to MTM losses
Shares of Biocon picked up steam on Tuesday after the pharmaceutical major reported 16% growth in operating profits. The board has also recommended dividend of Rs 3 per share.
By ET Bureau |
MUMBAI: Shares of Biocon picked up steam on Tuesday after the pharmaceutical major reported 16% growth in operating profits. The board has also recommended dividend of Rs 3 per share.
The company���s net profit, however, was impacted by its marked-to-market losses, declining to Rs 93 crore. MTM losses stood at Rs 147 crore. Consolidated revenue (including Axicorp) increased 53 per cent to Rs 1673 crore in the March quarter from Rs 1090 crore a year ago. Operating margins were maintained at 31 per cent.
At 10:20 am, the stock was up 3.84 per cent at Rs 151.25 on the BSE.
The company���s net profit, however, was impacted by its marked-to-market losses, declining to Rs 93 crore. MTM losses stood at Rs 147 crore. Consolidated revenue (including Axicorp) increased 53 per cent to Rs 1673 crore in the March quarter from Rs 1090 crore a year ago. Operating margins were maintained at 31 per cent.
At 10:20 am, the stock was up 3.84 per cent at Rs 151.25 on the BSE.
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