Syngene International Profit Drops 9% in Q2 FY25

New Delhi, Oct 23 (PTI) Contract research and manufacturing services firm Syngene International on Wednesday reported a 9 per cent on-year decline in consolidated profit after tax to Rs 106 crore in the second quarter of FY25.

The company reported a profit after tax (PAT) of Rs 117 crore in the July-September quarter of last fiscal.

Revenue from operations declined to Rs 891 crore in the September quarter compared with Rs 910 crore in the year-ago period, Syngene International said in a statement.

"Performance in the second quarter and first half of the year was broadly flat, in line with our expectations," Syngene International Managing Director and Chief Executive Officer Jonathan Hunt said.

With a strong third quarter already underway, the company expects to see a positive change in revenue trajectory in the third quarter and remain on track to deliver within the guidance range for the full year, he added.

The company said it has appointed Deepak Jain as Chief Financial Officer with effect from December 1.

He replaces Sibaji Biswas, Executive Director and Chief Financial Officer, who has submitted his resignation and will leave the company to pursue other career opportunities, it added.

Syngene also appointed Jayashree Aiyar as Chief Scientific Officer (CSO) and as part of the company's executive committee, with immediate effect.

Shares of the company ended 0.13 per cent down at Rs 837.85 apiece on the BSE.