Biocon hits a life time new high

The market is most obviously trilled to bits with the performance of Biocon.

The company for Q1FY17 posted a 34% (YoY) jump in consolidated net profit at Rs.167 crore on a 21% jump in total revenue at Rs.982 crore. This performance was driven mainly by a strong uptick in two of its segments – biologics and branded formulations. An increase in other income also helped – it was up 10% at Rs.41 crore.  Its EBITDA showed a healthy 26% jump up at Rs.263 crore with margins improving from 25.6% to 26.8%.

Biologics showed a 53% growth in revenue  while branded formulations grew 15%. Licensing (including capacity reservation fees) was down 73%. Syngene too showed a good growth with its total income increasing 10% at Rs,903 crore. Two new facilities, the first phase of the Syngene Research Centre and a Viral Testing Facility, are now operational, which augurs well for the biologics business. The positive growth and outlook positions Syngene for a strong performance in FY17.

The stock price is up in the green – it hit a life time high today at Rs.768.25.