Below is quote on Biocon Q2FY22 number below expectation, stock down 6% by Mr. Yash Gupta, Equity Research Analyst, Angel One Ltd
Biocon Limited reported revenue from operation at 1840 crores up by 5%, YoY 1750 crores in Q2FY21, Biosimilars has done well for the company up by 10% at ₹743 crores while generics down by 12% at ₹530 crores. The company reported an EBITDA of ₹551 crores up by 35% YoY on the back of better profit margins and product mix. The company reported a net profit of ₹138 crores down by 18% as compared to ₹169 crores in Q2FY21 as the company reported an exceptional loss of ₹50 Crores.
Numbers are below the market expectation biosimilars and research services have done well for the company but generic was down more than 12%.
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