Third quarter revenue from operations up 13% to Rs. 585 Cr.
Mumbai: Syngene International Limited today announced its third-quarter FY21 results. The Company posted quarterly revenue from operations of Rs. 585 Cr. compared to Rs. 519 Cr. in the corresponding quarter of last year. EBITDA and PAT for the quarter were both up 11% to Rs. 193 Cr. and Rs. 102 Cr. respectively.
Commenting on the results, Mr 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% while PAT was up 11%. 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. This reflects our ability to deliver projects from early discovery to the clinic. During the quarter, our scientists have continued to support the government and the community in the fight against the coronavirus by using our domain knowledge and infrastructure.
Overall, the third quarter performance puts the Company on course to close the year in line with our guidance.”