{"id":4748,"date":"2024-10-31T12:10:32","date_gmt":"2024-10-31T06:40:32","guid":{"rendered":"https:\/\/lakshmishree.com\/news\/?p=4748"},"modified":"2024-10-31T12:10:33","modified_gmt":"2024-10-31T06:40:33","slug":"biocon-shares-drop-5-5-as-q2-net-profit-declines-sharply","status":"publish","type":"post","link":"https:\/\/lakshmishree.com\/news\/biocon-shares-drop-5-5-as-q2-net-profit-declines-sharply\/","title":{"rendered":"Biocon Shares Drop 5.5% as Q2 Net Profit Declines Sharply"},"content":{"rendered":"\n<p>Biocon\u2019s shares plunged 5.5% in early trading on October 31 after reporting a steep 84% drop in net profit for the July-September quarter. The drugmaker\u2019s Q2 net profit fell to Rs 27.1 crore from Rs 172 crore year-over-year, driven by a decrease in EBITDA margins to 19%, compared to 21% in the same quarter last year.<\/p>\n\n\n\n<p>Despite these challenges, Biocon\u2019s revenue rose by 4% to Rs 3,590.4 crore, supported by strong growth in its biologics arm, Biocon Biologics, which recorded a 19% increase in revenue. The biologics division reported Rs 691 crore in core EBITDA, with a margin of 32%, buoyed by gains in the US oncology and insulins markets.<\/p>\n\n\n\n<p>Analysts remain cautious: Nuvama Institutional Equities and Motilal Oswal both maintained neutral ratings, citing ongoing USFDA compliance issues and awaiting further biosimilar launches. Goldman Sachs retained a &#8216;buy&#8217; rating with a target price of Rs 350, although it noted margin pressures due to lower gross margins and operating leverage. At 09:35 am, Biocon shares were trading at Rs 312.20 on the NSE<\/p>\n\n\n\n<p><em>Do&nbsp;you have a news tip for Lakshmishree reporters? Please email us at&nbsp;<\/em>media@lakshmishree.com<\/p>\n\n\n\n<p><sub><sup>Source:\u00a0<a href=\"https:\/\/www.moneycontrol.com\/news\/business\/markets\/biocon-shares-slump-5-5-as-net-profit-takes-a-dive-in-q2-12855810.html\" target=\"_blank\" data-type=\"link\" data-id=\"https:\/\/www.moneycontrol.com\/news\/business\/markets\/biocon-shares-slump-5-5-as-net-profit-takes-a-dive-in-q2-12855810.html\" rel=\"noreferrer noopener\">Moneycontrol<\/a><\/sup><\/sub><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Biocon\u2019s shares plunged 5.5% in early trading on October 31 after reporting a steep 84% drop in net profit for the July-September quarter. The drugmaker\u2019s Q2 net profit fell to Rs 27.1 crore from Rs 172 crore year-over-year, driven by a decrease in EBITDA margins to 19%, compared to 21% in the same quarter last [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4749,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[62],"tags":[607],"class_list":["post-4748","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-results","tag-biocon-q2-results"],"_links":{"self":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts\/4748","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/comments?post=4748"}],"version-history":[{"count":1,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts\/4748\/revisions"}],"predecessor-version":[{"id":4750,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts\/4748\/revisions\/4750"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/media\/4749"}],"wp:attachment":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/media?parent=4748"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/categories?post=4748"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/tags?post=4748"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}