 "Syngene International gains post Q2 results")
Syngene International is trading higher by 4% at Rs 374 on the BSE after reporting 31% year on year rise in its net profit at Rs 52.29 crore for the second quarter ended September 30, 2015 (Q2).
The company, a research arm of Biocon, had profit of Rs 40.01 crore during the same period of previous fiscal.
Net sales of the company during the quarter review grew 28% at Rs 256 crore, as compared to Rs 198 crore during the same period of previous fiscal, Syngene International said in a regulatory filing.
Earnings before interest, tax, depreciation and amortization (EBITDA) margin however remain unchanged at 33%, it added.
"Our recent capacity expansion in manufacturing services has helped us keep pace with the increasing requirements of our clients," Syngene, Executive Director and CEO Peter Bains said.
The company had raised Rs 550 crore through initial public offer by issuing shares at price of Rs 250 per share.
The stock hit a high of Rs 385 on the BSE, its highest level since listing in August this year. A combined 481,874 shares changed hands on the counter on the BSE and NSE till 11:33 am.
The company, a research arm of Biocon, had profit of Rs 40.01 crore during the same period of previous fiscal.
Net sales of the company during the quarter review grew 28% at Rs 256 crore, as compared to Rs 198 crore during the same period of previous fiscal, Syngene International said in a regulatory filing.
Earnings before interest, tax, depreciation and amortization (EBITDA) margin however remain unchanged at 33%, it added.
"Our recent capacity expansion in manufacturing services has helped us keep pace with the increasing requirements of our clients," Syngene, Executive Director and CEO Peter Bains said.
The company had raised Rs 550 crore through initial public offer by issuing shares at price of Rs 250 per share.
The stock hit a high of Rs 385 on the BSE, its highest level since listing in August this year. A combined 481,874 shares changed hands on the counter on the BSE and NSE till 11:33 am.
