Biocon’s shares surged by 8% on Tuesday due to strong Q4 earnings growth. Net profit grew by 31% to INR 313 crore with 57% YoY growth in consolidated revenue from operations totaling INR 3,774 crore. Operating profit EBITDA surged 75% while gross spending on R&D rose by 53% to INR 356 crore. The biosimilars business stood out with revenue more than doubling on YoY basis to INR 2,102 crore. However, despite strong results, Biocon reportedly missed estimates, according to Motilal Oswal.
Concurrent Gainers: 7 stocks that gained for 5 days in a row
In the five trading sessions prior to March 7, the Sensex rose by around 1.5%, or 1,134 points, closing at 74,333. The market ended on
March 8, 2025