Syngene Q1 net up 28% at Rs 60 crore

Shares of the company closed at Rs 427.75 on BSE

Biocon's contract research and manufacturing arm Syngene International on Thursday reported 28.32% rise in standalone net profit to Rs 59.8 crore for the quarter ended on June 30, 2016.

The company had posted a net profit of Rs 46.6 crore for the corresponding period of the previous financial year, Syngene International said in a filing to BSE.

Standalone total income from operations of the company also rose to Rs 274.5 crore for the quarter ended June, 2016 as against Rs 233.7 crore for the same period year ago.

"We are pleased to report a good start for the year with all our three verticals performing as expected... Two new facilities are now operational — the first phase of the Syngene Research Centre and viral testing facility," Syngene International CEO Jonathan Hunt said.

Shares of Syngene International closed at Rs 427.75 on BSE, up 1.21% from its previous close.