Syngene International Ltd. Announces Unaudited Standalone Earnings Results for the Third Quarter and Nine Months Ended December 31, 2016; Provides Capital Expenditure Guidance for the Fiscal Year 2016 to 2019
January 24, 2017 at 06:26 pm IST
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Syngene International Ltd. announced unaudited standalone earnings results for the third quarter and nine months ended December 31, 2016. For the quarter, the company reported net sales/income from operations (net of excise duty) of INR 3,238 million compared to INR 2,751 million a year ago. Profit from operations before other income, finance costs and exceptional items was INR 840 million compared to INR 780 million a year ago. Profit from ordinary activities before tax was INR 918 million compared to INR 771 million a year ago. Net profit was INR 744 million compared to INR 667 million a year ago. Diluted earnings per share were INR 3.76 compared to INR 3.38 a year ago. EBITDA was INR 940 million compared to INR 790 million a year ago.
For the nine months, the company reported net sales/income from operations (net of excise duty) of INR 8,877 million compared to INR 7,594 million a year ago. Profit from operations before other income, finance costs was INR 2,240 million compared to INR 1,918 million a year ago. Profit from ordinary activities before tax was INR 2,561 million compared to INR 1,878 million a year ago. Net profit was INR 2,089 million compared to INR 1,619 million a year ago. Diluted earnings per share were INR 10.58 compared to INR 8.21 a year ago. EBITDA was INR 3,540 million compared to INR 2,665 million a year ago. Growth driven by increase in sales from existing clients and acquisition of new clients
The company Expansion Capex of USD 200 million envisaged over Fiscal Year 2016 to 2019.
Syngene International Limited is an integrated research, development, and manufacturing services company. The Company is engaged in providing contract research and manufacturing services from lead generation to clinical supplies to pharmaceutical and biotechnology companies worldwide. Its services include drug discovery and development capabilities in medicinal chemistry, biology, in vivo pharmacology, toxicology, custom synthesis, process research and development, current good manufacturing practice (cGMP) manufacturing, formulation, and analytical development, along with clinical development services. It offers SynVent, a therapeutic discovery and development platform for executing drug discovery projects. SynVent's portfolio covers modalities and therapeutic areas ranging from small molecule inhibitors to targeted protein stabilization. It serves the pharmaceutical, biotechnology, and specialty chemical sectors, among others. It operates multi-modal biologics manufacturing facility.
Syngene International Ltd. Announces Unaudited Standalone Earnings Results for the Third Quarter and Nine Months Ended December 31, 2016; Provides Capital Expenditure Guidance for the Fiscal Year 2016 to 2019