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Shares of Biocon today rose by over 2 per cent after the company reported a jump in consolidated net profit for the fourth quarter ended March.
The stock gained 2.25 per cent to settle at Rs 452.90 on BSE. Intra-day, it climbed 3.88 per cent to Rs 460.15.
On NSE, the scrip ended 1.92 per cent higher at Rs 452.65.
Biocon today reported a 78.22 per cent spike in consolidated net profit at Rs 201.54 crore for the fourth quarter, helped by exceptional gains of Rs 105.06 crore.
On future outlook, Biocon CMD Kiran Mazumdar Shaw said: “As we move into FY16, we are clearly seeing our bio-similar strategy playing out with greater clarity, credibility and traction visible across our portfolio of biologics as they advance in clinical development. We continue to make investments in R&D as a strong future value driver.”
In the stock market, the BSE benchmark Sensex ended at 27,011.31, down 214.62 points.
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