Biocon Q2 Results: Loss at ₹16Cr, Revenue Increased by 3.7% YoY

Biocon Q2 Results Live : Biocon has released its Q2 results for the fiscal year 2024, reporting a topline growth of 3.7%, with revenue reaching new heights. However, the company faced a loss of ₹16 crore during this period, a stark contrast to the profit of ₹125.6 crore reported in the same quarter of the previous fiscal year.

In comparison to the previous quarter, Biocon's revenue showed a quarterly growth of 4.59%. Nonetheless, the company is grappling with rising expenses, as Selling, General & Administrative expenses rose by 4.53% quarter-on-quarter and saw a significant increase of 26.86% year-on-year.

The company's operating income experienced an increase of 18.02% compared to the previous quarter but fell by 11.21% year-on-year. The earnings per share (EPS) for Q2 stood at ₹-0.27, indicating a drastic decrease of 122.06% year-on-year, raising concerns among investors.

In terms of stock performance, Biocon has seen a -1.38% return over the last week, though it has managed a 7.42% return over the past six months and a notable 28.46% year-to-date return. The company's current market capitalization is ₹38,408.78 crore, with a 52-week high of ₹395.8 and a low of ₹218.3.

According to analysts' coverage as of October 31, 2024, out of 16 analysts, 2 have given a 'Strong Sell' rating, 4 have rated it as 'Sell', 3 as 'Hold', 3 as 'Buy', and 4 as 'Strong Buy'. The consensus recommendation is to 'Hold' as the company navigates through these challenging financial waters.