Syngene incorporates subsidiary for pharmaceutical products manufacturing

29 Aug 2022 , 01:50 PM

SMSL will be engaged in the business of manufacturing of pharmaceutical, biopharmaceutical and biological products of any kind and have its registered office in the state of Karnataka. Syngene International incorporated SMSL by subscribing to its 10 lakh equity shares of Rs 10 each aggregating to Rs 1 crore, making it a wholly-owned subsidiary of the company. Syngene International is an integrated research, development and manufacturing services company serving the global pharmaceutical, biotechnology, nutrition, animal health, consumer goods and specialty chemical sectors. The companys consolidated net profit declined 4.4% to Rs 73.9 crore in Q1 FY23 from Rs 77.3 crore in Q1 FY22. Revenue from operations increased 8.4% YoY to Rs 644.5 crore in Q1 FY23. The scrip rose 0.24% to currently trade at Rs 602.55 on the BSE. Powered by Capital Market – Live News