Crime Today News
Peter Bains, Chief Executive Officer of Syngene International Ltd
Biocon’s contract manufacturing arm, Syngene International has posted a 3 per cent year-on-year decline in profit after tax (PAT) to ₹183 crore for the March quarter, down from ₹189 crore in the same period last year. However, revenue for the quarter crossed the ₹1,000 crore milestone for the first time, reaching ₹1,018 crore. This marks an 8 per cent sequential growth and an 11 per cent increase on a YoY basis.
According to Peter Bains, Managing Director and CEO, the revenue growth was driven by strong performance in the biologics CDMO business, supported by commercial manufacturing and the addition of new development projects. “After a muted first half, driven by a sectoral downturn in US biotech funding, we are encouraged to see a return to growth in the second half of the year,” Bains said.
While acknowledging global uncertainties, he added, “We expect business momentum to continue with a pipeline build in both small and large molecules, supported by new pilot programs and the conversion of existing pilots in discovery services.”
Looking ahead to FY26, Syngene expects underlying revenue growth in the early teens, reflecting broad-based momentum across research, development, and manufacturing services. However, reported revenue growth is likely to be in the mid-single digits, after adjusting for inventory balancing in large molecule commercial manufacturing at the client level.
The shares of the company closed at 754.00, up by 2.52 per cent on BSE.
(With inputs from BL intern Rohan Das)
Published on April 23, 2025
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