Shares of Biocon and Indian Bank declined 6 percent and 12 percent respectively on October 24 after the companies had announced their September quarter earnings on October 23.
Biocon reported 39.2 percent fall in its Q2FY20 net profit at Rs 215.7 crore against Rs 354.7 crore while the revenue was up 19 percent at Rs 1,572.2 crore versus Rs 1,321 crore year-on-year (YoY).
Earnings before interest, tax, depreciation and amortisation (EBITDA) rose 18.6 percent at Rs 402.8 crore and margin was at 25.6 percent.
Indian Bank registered 139 percent YoY jump in its Q2FY20 net profit at Rs 358.6 crore while it was down on the sequential basis as it had reported profit of Rs 365.37 crore in quarter ended in June.
The company's gross NPA was at 7.2 percent while net NPA was at 3.54 percent, QoQ.
The net interest income was up 7.6 percent at Rs 1,863 crore against Rs 1,730.9 crore.
At 15:02 hrs, Biocon was quoting at Rs 244.55, down Rs 13.70, or 5.30 percent, and Indian Bank was quoting at Rs 125.80, down Rs 17.10, or 11.97 percent, on the BSE. Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.
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