21 January 2021 | News
The company posted quarterly revenue from operations of Rs 585 crore compared to Rs 519 crore in the corresponding quarter of last year
Source credit: Shutterstock
Syngene International Limited has announced its third-quarter FY21 results. The Company posted quarterly revenue from operations of Rs 585 crore compared to Rs 519 crore in the corresponding quarter of last year. EBITDA and PAT for the quarter were both up 11 per cent to Rs 193 crore and Rs 102 crore respectively.
Commenting on the results, Jonathan Hunt, Managing Director and Chief Executive Officer, Syngene International Ltd said, “We are pleased to report third-quarter growth in line with our guidance with revenue from operations growing 13 per cent while PAT was up 11 per cent. Sustained focus on employee and campus safety helped us maintain near-normal operations across all our campuses despite the continuing pandemic.”
“Earlier in the quarter, we signed an agreement with Deerfield Discovery and Development (3DC) to advance therapeutic discovery projects from target validation through to pharmacological proof of concept and preclinical evaluation, both in large and small molecules. As part of this agreement, 3DC has awarded us four new IDD projects. Integrated drug discovery (IDD) is a strategic focus area for the Company.”