Companies

Syngene Q3 profit rises 6% with 11% increase in revenue

Our Bureau Bengaluru | Updated on January 22, 2020 Published on January 22, 2020

Strong performances from discovery and development services boosted contract research and manufacturing company Syngene International Ltd’s net profit by 6 per cent to ₹92 crore in the third quarter of this fiscal.

“Syngene’s third quarter revenue grew 11 per cent over the corresponding quarter last year mainly driven by strong performances from Discovery Services and Development Services. Overall, these results represent steady growth and keep us on track as we go into the last quarter of the financial year,” said the company’s CEO Jonathan Hunt in a statement.

The company received approval from Russian regulatory authorities as well as Good Laboratory Practice (GLP) approval from the National GLP Compliance Monitoring Authority for its viral testing facility, added the statement.

In Q3, Syngene appointed Sibaji Biswas as CFO, Jan-Olav Henck as Head of the Development Services Business and Vinita Shrivastava as Chief Human Resource Officer.

Published on January 22, 2020
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