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.
IGL, MGL shares tumble up to 7% after changes in domestic gas allocations
The shift, driven by reduced domestic gas availability and changing supply dynamics, is likely to impact profitability for these companies, as they will now depend
April 16, 2025