Biocon said on Wednesday its December-quarter consolidated net profit rose 14 per cent to Rs. 105 crore.
Some analysts cited disappointment over operating margins,especially about research and development margins.R&D margin at 2.9 per cent is the lowest in the past several quarters, which raises concerns on sustainability of the margin improvement.
Investors are also locking profits after the stock jumped 8.5 per cent in the previous three sessions.
Biocon shares were trading down 5.2 per cent near close.