Syngene International's PAT rises 21% at Rs 179 cr in March quarter

Contract manufacturing services firm Syngene International on Wednesday said its profit after tax rose 21 per cent to Rs 179 crore during the March quarter.

The Bengaluru-based firm had reported a Profit After Tax (PAT) of Rs 148 crore in the year-ago period.

Revenue from operations rose to Rs 994 crore in the fourth quarter as compared with Rs 758 crore in the corresponding period of the last year, Syngene International said in a statement.

For FY23, the company reported a PAT of Rs 464 crore, up 17 per cent, as against Rs 396 crore in the 2021-22 fiscal.

Revenue from operations rose to Rs 3,193 crore in FY23 as compared with Rs 2,604 in 2021-22 fiscal.

"All business divisions delivered growth through the year triggering investment in additional laboratory capacity and new facilities at our campuses in Bengaluru and Hyderabad, as well as creating over 1,000 new jobs," Syngene International Managing Director and CEO Jonathan Hunt said.

Looking ahead, the company is optimistic about the business, he added.

"Despite challenges such as inflation, geopolitical uncertainties and recessionary pressures visible in some regions of the world - that our performance over the last year and the progress we have made on the strategic development of the company, position us well for the year ahead," Hunt said.