This site is intended for Healthcare professionals.
×

Syngene reports robust 11% YOY revenue growth in Q2 FY20

................................ Advertisement ................................


business medical dialogues

Bengaluru: Syngene International Limited recently announced its Q2 FY20 results posting quarterly revenue of Rs. 485 Cr, an increase of 11% from the corresponding quarter of FY19.

Syngene’s Q2 FY20 business performance was primarily driven by continued growth in the Discovery Services business and consistent performance of the Dedicated R&D Centre and Development Services business.

During the quarter, the first phase of its new research facility in Hyderabad became operational. As per the company’s release  Phase I covers 50,000 sq ft of laboratory space and will house a team of around 150 discovery research scientists.

................................ Advertisement ................................

Continuing with its strong track record of regulatory compliance, the Company successfully completed another US FDA inspection of its facilities as an analytical laboratory for general GMP coverage. While a formal communication is awaited from the regulator, no form 483 was issued at the conclusion of the inspection.

During the quarter, the Company received an interim payment of Rs. 97 Cr towards its insurance claim for the S2 building. The receipt after adjusting for losses incurred has resulted in an exceptional gain of Rs. 46 Cr, net of taxes.

................................ Advertisement ................................

The Company also received the Utthama Suraksha Puraskar award from the National Safety Council of India for its safety management systems and safety performance. This comes as recognition of the strong focus the Company places on safety and sustainability.

................................ Advertisement ................................

Commenting on the results, Mr. Jonathan Hunt, Chief Executive Officer – Syngene International Limited, said: “We are pleased to report robust revenue growth of 11% in Q2, with revenue growing from Rs. 437 Cr in Q2 last year to Rs. 485 Cr this quarter. Continued growth in our Discovery Services business, combined with consistent performances in our Dedicated R&D Centres and Development Services business were key to this performance. The quarter also saw the successful completion of another US FDA inspection of our facility in Bengaluru as an analytical laboratory for general GMP coverage. This outcome reflects the importance we place on quality and compliance as well as the ongoing investments we are making in staff training, systems and culture to ensure we continue to keep pace with evolving global standards. Our focus on building world class safety systems and processes won us the Utthama Suraksha Puraskar award from the National Safety Council of India. Overall, performance in the H1 ensures we are making good progress towards achieving our FY goals.”

Quarterly Financial Highlights(All numbers in INR Cr except Margins)

Q2 FY20 Q2 FY19 YoY Change (%)
Revenue 485 437 11
EBITDA 160 145 10
EBITDA Margin (%) 33 33
PAT excluding exceptional gain 82 78
PAT Margin (%) 17 18
Exceptional gain, net of taxes 46
PAT 128 78 64

H1 FY20 Financial Highlights(All numbers in INR Cr except Margins)

H1 FY20 H1 FY19 YoY Change (%)
Revenue 927

862

8
EBITDA 301 273 10
EBITDA Margin (%) 32 32
PAT excluding exceptional gain 154

144

7
PAT Margin (%) 17 17
Exceptional gain, net of taxes 46
PAT 200 144 38

Read Also: Syngene International Q1 net profit rises 9 percent to Rs 72 crore

 

Spread the love

Author Details

Medical Dialogues Bureau

Medical Dialogues Bureau consists of a team of passionate medical/scientific writers, led by doctors and healthcare researchers.  Our team efforts to bring you updated and timely news about the important happenings of the medical and healthcare sector. Our editorial team can be reached at editorial@medicaldialogues.in. Check out more about our bureau/team here

Source: self
0 comment(s) on Syngene reports robust 11% YOY revenue growth in Q2 FY20

Share your Opinion Disclaimer

Sort by: Newest | Oldest | Most Voted

    ................................ Advertisement ................................