Syngene International's Q2 net profit increased by 53% to Rs 102 crore

20 Oct 2022 , 02:03 PM

On the strength of increasing revenue, Syngene International reported on Wednesday a 53% increase in its consolidated net profit at Rs102 crore for the second quarter that ended September 2022. According to a regulatory filing, the company, which provides integrated research, development, and manufacturing services, had a consolidated net profit of Rs66.7 crore for the same time the prior fiscal year.

According to the statement, total operating revenue for the quarter under review was Rs768.1 crore as opposed to Rs610.2 crore in the same quarter last year. Due to a major improvement in the Rupee/US dollar exchange rate, the agreement with Zoetis, and an increase in sales projection, Syngene increased its fiscal revenue guidance to the “mid-teens to high teens” in July.

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