Strong prospects of Biologics business keep Street positive on Biocon

Even though Q2 performance missed estimates, analysts expect a stronger second half

Topics
Biocon | Pharma Companies | Indian companies

Ujjval Jauhari 

Amidst high expectations for the quarter ending September (Q2), a lower-than-expected performance by Biocon saw it's stock fall nearly 3 per cent to Rs 417 on Friday. The fall could have been higher, but analysts say the strong prospects of its Biologics business lends comfort.

In Q2, revenue from operations grew just 11 per cent year-on-year to Rs 1,760 crore, falling short of Bloomberg consensus estimates of Rs 1,834 crore, due to slower-than-expected growth in Biologics and research services. Biologics sales at Rs 676 crore grew 11 per cent year-on-year. Though revenue was ...

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First Published: Fri, October 23 2020. 19:45 IST
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