Biocon’s FY19 March quarter (Q4) results were a mixed bag. While the drug maker with revenues of Rs 1528.8 crore (up 31 per cent year-on-year) missed estimates, efficient cost-control measures led to a net profit growth of 64 per cent, which was ahead of expectations at Rs 214 crore.
The company, whose core operating margins expanded 800 basis points year-on-year, expects to sustain margins at 34 per cent levels, going forward. At Rs 619.8 apiece, its stock price though, closed on a flat note. Biocon’s performance continues to be driven by growth in its biologics and ...
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