Syngene posts 11% rise in Q3 profits at ₹102 crore

Bengaluru | Updated on January 21, 2021

Syngene International, a Bengaluru-based integrated research, development and manufacturing services company posted 11 per cent higher profits at ₹102 crore for the third-quarter (Q3) of FY 2020-21 on a consolidated basis as against ₹92 crore posted last year.

The company’s revenue is higher by 12 per cent to ₹602 crore as against ₹539 crore in the same period last year. EPS for the quarter stood at ₹2.56 compared with ₹2.31 last year.

Jonathan Hunt, Managing Director and Chief Executive Officer, Syngene International Ltd said, “We are pleased to report third-quarter growth with revenue from operations growing 13 per cent while PAT was up 11 per cent. Sustained focus on employee and campus safety helped us maintain near-normal operations across all our campuses despite the continuing pandemic.”

He added, “Earlier in the quarter, we signed an agreement with Deerfield Discovery and Development (3DC) to advance therapeutic discovery projects from target validation through to pharmacological proof of concept and preclinical evaluation, both in large and small molecules. As part of this agreement, 3DC has awarded us four new IDD projects. Integrated drug discovery (IDD) is a strategic focus area for the Company. This reflects our ability to deliver projects from early discovery to the clinic. Overall, the third quarter performance puts the Company on course to close the year in line with our guidance.”

Published on January 21, 2021

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