Syngene Q1 Result: Net profit up 26% to Rs 93 crore

Contract manufacturing services firm Syngene International on Wednesday said its consolidated net profit increased 26 per cent to Rs 93 crore in the June quarter. The company had reported a net profit of Rs 74 crore in the April-June quarter of last fiscal.

Revenue rose to Rs 832 crore for the first quarter of the current fiscal as against Rs 660 crore in the year-ago period, Syngene International said in a regulatory filing.

Syngene International Chief Financial Officer Sibaji Biswas said the financial performance of the company is in line with the revenue growth guidance for the year on a constant currency basis.

"We made investments in growing our portfolios in biologics manufacturing and discovery services. Despite these investments, the company will continue to maintain a strong balance sheet and a low debt profile," he added.

Shares of the company on Wednesday ended 1.84 per cent down at Rs 761.65 apiece on the BSE.