Biocon hits over two-year low; slips 18% in six weeks post weak Q4 results

In the past one year, the stock has slipped 22 per cent, as against a 39 per cent rally in the S&P BSE Sensex.

The share price of Biocon hit an over two-year low of Rs 312, down 1.5 per cent on the BSE in Wednesday’s intra-day trade. In the past six weeks, shares of the pharmaceutical company has declined 18 per cent after it reported a 4 per cent year-on-year (YoY) fall in consolidated net profit to Rs 283.9 crore in Q4FY22. 

It had posted a consolidated net profit of Rs 296.4 crore in the same quarter previous fiscal.

Consolidated revenue from operations in Q4FY22 rose 31 per cent YoY at Rs 2,409 crore as against Rs 1,842 crore in the