Companies

Syngene International Q2 net dips 21 per cent to ₹ 67 cr

PTI New Delhi | Updated on October 21, 2021

Revenue from operations, however, increased to ₹ 610.2 crore in the second quarter

Contract research, development and manufacturing services provider Syngene International on Thursday reported a 20.8 per cent decline in its consolidated net profit at ₹ 66.7 crore for the second quarter ended September.

The company had posted a net profit of ₹ 84.1 crore in the September quarter of the previous fiscal.

Revenue from operations, however, increased to ₹ 610.2 crore in the second quarter as against ₹ 519.6 crore in the year-ago period, Syngene International said in a regulatory filing.

During the quarter, the company said it has taken an exceptional downward adjustment of ₹ 25.3 crore (net of tax) on account of the government's recent decision in the quarter to cap the Services Export Incentive Scheme (SEIS) for research and development services at ₹ 5 crore for the financial year 2020.

Shares of the company settled 1.91 per cent down at ₹ 594.85 apiece on BSE.

Published on October 21, 2021

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