Syngene Q2FY23 PAT up 52.92% at Rs102 crore as the company cuts down sharply on raw material input costs

25 Oct 2022 , 12:34 AM

Syngene International reported 25.88% growth in total revenues for the September 2022 quarter on consolidated basis at Rs768.10cr.

Revenue growth was 19.18% in sequential terms. The company, which is part of the Biocon group, is into contract research which is also called the CRAMS model.

The company reported improved cash flow from operations in the first half of the year on the back of improved working capital metrics.

The company has declared a final dividend of Rs1 per share for FY22 and also special dividend of Rs0.50.

Consolidated Profit after tax (PAT) for September 2022 quarter was up 52.92% at Rs102cr on the back of better control over input and raw material costs.

The cost controls on the raw material front made up for the increase in employee costs yoy. The profit growth also looks magnified due to the Rs30.7 crore exceptional loss in the September 2021 quarter due to reversal of SEIS claim.

PAT margins were higher at 13.28% in the Sep-22 quarter compared to 10.93% in the Sep-21 quarter and also higher than 11.47% in Jun-22 quarter.

Financial highlights for Sep-22 compared yoy and sequentially

	Syngene International
Rs in Crore	Sep-22	Sep-21	YOY	Jun-22	QOQ
Total Income (Rs cr)	₹ 768.10	₹ 610.20	25.88%	₹ 644.50	19.18%
Net Profit (Rs cr)	₹ 102.00	₹ 66.70	52.92%	₹ 73.90	38.02%
Diluted EPS (Rs)	₹ 2.53	₹ 1.63		₹ 1.83
Net Margins	13.28%	10.93%		11.47%