Company news: Syngene International

| Updated on August 08, 2019 Published on August 08, 2019

Syngene International on Thursday said it has received an additional interim payment of ₹97 crore from an insurance company for the damage caused during the fire at its premises in December 2016. The company had recorded a loss of ₹104.50 crore and recognised a minimum insurance claim for the equivalent amount in its books for FY 2018-19. Of the ₹97 crore, ₹67.90 crore has been disbursed to the company, Syngene said in a notice to the stock exchanges. The total amount approved till date aggregates to ₹177 crore, of which ₹149.40 crore has been received so far, it said, and added the balance will be received in due course. The company is in the process of determining and lodging its final claim for the loss of assets and business interruption, it further said. Shares of Syngene closed at ₹315.40, up 0.61 per cent on the BSE.

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Published on August 08, 2019
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