Syngene reports 11 pc growth in Q3 PAT at Rs 102 cr
Jan 21, 2021
Bengaluru (Karnataka) [India], January 21 : Biocon's subsidiary Syngene International has reported 11 per cent growth in earnings before interest, taxes, depreciation and amortisation (EBITDA) and profit after tax at Rs 193 crore and Rs 102 crore respectively in the quarter ended December (Q3 FY21).
The revenue from operations totalled Rs 585 crore compared to Rs 519 crore in the corresponding quarter of last year, up 13 per cent.
Syngene is an integrated research, development and manufacturing services company serving the global pharmaceutical, biotechnology, nutrition, animal health, consumer goods and specialty chemical sectors.
The third-quarter revenue growth was driven by a sustained performance from all divisions, it said. Continued focus on cost control measures and improving operational efficiency have underpinned profitability and delivered a strong profit margin.
"Besides, sustained focus on employee and campus safety helped us maintain near-normal operations across all our campuses despite the continuing pandemic," said Jonathan Hunt, Managing Director and Chief Executive Officer.
"During the quarter, our scientists have continued to support the government and the community in fight against coronavirus by using our domain knowledge and infrastructure," he added.
Continuing its contribution in the fight against Covid-19, the company completed testing of more than one lakh samples at its facility.
It has also set up a new RT-PCR testing facility that has been approved by National Accreditation Board for Testing and Calibration Laboratories (NABL) and Indian Council of Medical Research (ICMR) and complies with BSL-2 criteria.
Syngene said its 4,200 scientists offer both skills and the capacity to deliver great science, robust data management and IP security and quality manufacturing at speed, to improve time-to-market and lower the cost of innovation.
