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Biocon Shares Fall as Earnings Disappoint

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Shares in Biocon Ltd slumped over 7 per cent after June-quarter earnings disappointed some investors.

Biocon's June-quarter consolidated net profit was up 9 per cent at Rs 103 crore ($17.14 million). (Read more)

On-going geo-political conflicts in MENA region, affected growth in the biopharma business, which de-grew by 3 per cent year-on-year, Edelweiss Securities says in a note to clients.

As of 2:23, Biocon shares were trading at Rs. 481.85 apiece on the BSE, down 6.77 per cent from the previous close.

Copyright @ Thomson Reuters 2014



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