Share value of Biocon declined greater than three per cent on Friday, April 30, a day after the biopharmaceutical firm introduced its January-March quarter outcomes for the monetary yr 2020-21. On Friday, Biocon opened on the BSE at Rs 392, touching an intra day excessive of Rs 392 and an intra day low of Rs 380.55, within the buying and selling session to date. Based on a regulatory submitting by the agency to the BSE, Biocon’s internet revenue soared 105 per cent to Rs 254 crore within the March quarter of fiscal 2020-21. (Additionally Learn: Biocon Web Revenue Jumps 105% To ₹ 254 Crore In March Quarter )
Biocon is the nation’s main biopharmaceutical firm based mostly in Bengaluru and is engaged within the manufacture of generic lively pharmaceutical components. Biocon’s income throughout the January-March quarter of the monetary yr 2020-21 grew 26 per cent to Rs 2,044 crore, registering sturdy development in its biosimilar, generic enterprise, and analysis companies. The income stood at Rs 1,621 crore within the corresponding quarter final yr.
Based on the assertion, the corporate’s board of administrators have determined to not declare any dividend for fiscal 2020-21 as a result of uncertainty amid the raginf second wave of the COVID-19 pandemic within the nation, and in addition as a result of investments in R&D.
On the NSE, Biocon opened at Rs 391.80, touching an intra day excessive of Rs 391.80 and an intra day low of Rs 380.50, within the session to date. It was final buying and selling 3.17 per cent decrease at Rs 381.40 on the NSE.
Biocon was final buying and selling 3.24 per cent decrease at Rs 381.35 on the BSE.