Syngene Reports 18% Profit Surge in Q3, Revenue Up 10.6%

24 Jan 2025 , 12:45 PM

Syngene International Ltd, India’s largest provider of contract research and manufacturing services, reported an 18% year-on-year (YoY) growth in net profit for the third quarter ended December 31, 2024. The company posted a net profit of ₹131 crore, up from ₹111 crore during the same period last year, according to its regulatory filing.

The company’s revenue from operations also grew healthily, up by 10.6% YoY to ₹943 crore, as against ₹853.5 crore in Q3 FY24. This increase was due to the strong performance across all its core business segments.

On the operational front, Syngene’s EBITDA has increased 22.5 per cent YoY to ₹283.6 crore, as compared to ₹231.5 crore from the corresponding quarter last year. EBITDA margins also improved significantly to 30.1 per cent from 27.1 per cent in Q3 FY24, citing the company’s thrust on operational efficiencies and cost control.

However, Syngene’s shares were trading at ₹801.05 on the National Stock Exchange as of January 24, 2025. It had dropped 5.43% in comparison to the previous session. However, over the past year, the stock has given quite good returns by rising 15%. Over the last six months, it has gone up by 7.42%.