Syngene International Profit Drops 9% in Q2 FY25
By Rediff Money Desk, New Delhi Oct 23, 2024 16:21
Syngene International's PAT declined 9% to Rs 106 crore in Q2 FY25, with revenue also dipping. The company expects revenue growth in Q3. Learn more.
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.
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.
Source: PTI
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- G G Engineering
- 2.13 (+ 12.11)
- 70001344
- Vodafone Idea L
- 7.67 ( -5.66)
- 68482952
- Srestha Finvest
- 0.66 ( -4.35)
- 32525731
- GTL Infrastructure
- 1.98 ( -4.81)
- 26692659
- AvanceTechnologies
- 0.82 (+ 2.50)
- 23608944
MORE NEWS
Coal India Q2 Profit Drops 22% to Rs 6,275 Cr
Coal India Ltd (CIL) reported a 22% drop in consolidated profit for the quarter ended...
Haryana CM Orders MSP Purchase for All Paddy:...
Haryana CM Nayab Singh Saini has instructed officials to ensure the purchase of every...
Trai's Digital Connectivity Rating Platform for...
Trai launches a rating platform to assess and rate properties based on digital...