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Q3 Results: Syngene Reports 23% Increase In Revenue, PAT Up By 5%

Syngene International on Monday announced its third-quarter results. The company posted consolidated revenue of Rs 803 crores in Quarter Three of the Financial Year 2022-23, a 23 per cent increase year on year, as the company revenue in Q3 FY21-22 stood at Rs 654 crores

Syngene International on Monday announced its third-quarter results. The company posted consolidated revenue of Rs 803 crores in Quarter Three of the Financial Year 2022-23, a 23 per cent increase year on year, as the company revenue in Q3 FY21-22 stood at Rs 654 crores.

Syngene declared a 5.7 per cent increase in net profits to be recorded at Rs 110 crores in Q3FY23 up from Rs 104 crores in the previous year's corresponding quarter.

The company's EBITDA surged by 15 per cent year on year and stood at Rs 248 crores up from Rs 216 crores recorded in the same quarter last year. Whereas the company's EBITDA margin for the quarter that ended 31st December 2022 was recorded at 30.9 per cent down by 2.2 per cent YoY.

Commenting on the results, Jonathan Hunt, Managing Director and Chief Executive Officer, Syngene International Limited, said, "We continue to see good demand in the main client markets of US and Europe which - combined with strong execution and forward planning - has helped us deliver solid revenue growth in the third quarter".

“Overall financial performance for the nine months ending 31st December 2022 was in line with our upgraded guidance and, with strong underlying revenue growth and stable margin delivery, we are on track to achieve our guidance for the year. In line with the global trend, we are also facing inflationary pressures, but we have been largely successful in navigating such issues to date and we remain confident about the positive future potential for our business,” said Sibaji Biswas, Chief Financial Officer, Syngene International.





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