 "Syngene's Q4 PAT up 7% to Rs 148 cr; revenue rises 15% to Rs 758 cr")
Contract manufacturing services firm Syngene International on Wednesday said its profit after tax (PAT), before accounting for exceptional items, increased by 7 per cent to Rs 148 crore in the fourth quarter ended March 31.
The company had reported a PAT of Rs 138 crore in the January-March period of 2020-21.
Revenue from operations rose to Rs 758 crore during the quarter against Rs 659 crore a year ago, Syngene International said in a statement.
For the year ended March 31, 2022, the company posted a PAT of Rs 421 crore compared to Rs 382 crore in FY21.
"Reflecting on the pandemic period, we created more than 1,000 new jobs in the last two years and gained more than 100 new clients in the last year. We also extended and expanded our long-term partnership with Amgen Inc and continued to invest in new capacity and technology to underpin future growth," Syngene International MD and CEO Jonathan Hunt noted.
Looking ahead, the company expects growing demand for research, development and manufacturing services around the world and Syngene is well-positioned to take advantage of these new opportunities, he added.
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On the outlook for FY23, the company said overall revenues from operations are expected to grow in the mid-teens.
The company said its board has recommended a final dividend of Re 1 per share of Rs 10 each for the financial year March 31, 2022.
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