Syngene Q3 Results: Net profit rose 18% YoY to Rs 131 crore

Syngene International, the contract research and manufacturing services arm of Biocon reported 18% year-on-year (YoY) jump in net profit to Rs.131 crore in Q3FY25 led by growth across dedicated centres and development and manufacturing services, even as discovery services business remained soft.
The third quarter revenue from operations rose 11% YoY to Rs. 944 crore.

The earnings before interest, tax, depreciation and ammortisation (EBITDA) rose 16% YoY to Rs. 302 crore in Q3FY25. The EBITDA margin rose 190 basis points YoY to 31.4%.


Syngene said it expects to close the full year with single-digit revenue growth and a flat profit after tax, while the EBITDA guidance remains unchanged.

"The recovery in demand, which was expected in the second half of the year, experienced a delay of approximately 8 to 12 weeks," the company said.

"Syngene has returned to growth in this quarter and foresees the growth momentum continuing into the fourth quarter of the financial year," it added.

Syngene has guided EBITDA margin of around 30% for FY25.

Jonathan Hunt, MD & CEO, Syngene International said the discovery services division saw the initial “China+1” pilot projects, with large and mid-size pharma companies, starting to convert into longer term contracts.

"Now, our focus is on further business development and building the sales pipeline. The quarter also saw positive momentum in our CDMO division led by biologics," he added.