Syngene International, a leading contract research organisation which entered capital market in August 2015, has achieved net profit growth of 18.2 per cent during the second quarter ended September 2015 to Rs.52.03 crore as against Rs.44 crore in the corresponding period of last year. Its sales from contract research and manufacturing services increased by 12 per cent to Rs.256 crore from Rs.228 crore. EPS worked out to Rs.2.70 as against Rs.2.26 in the last period.
Peter Bains, executive director and CEO said, “In our debut results announcement following Syngene’s successful IPO in August, we are very pleased to report a comprehensively strong set of numbers for H1 FY16. We have witnessed sustained momentum in our business across our dedicated centers, discovery and development service platforms. Our recent capacity expansion in manufacturing services, has helped us keep pace with the increasing requirements of our clients. We continue with our investments in the discovery and development space to support our partners’ evolving needs and to deliver sustained value to our shareholders.”
For the first half ended September 2015, Syngene's sales increased by 29.8 per cent to Rs.484 crore from Rs.373 crore in the similar half of last year. Its net profit went up by 28 per cent to Rs.96 crore from Rs.75 crore. As against the equity capital of Rs.199 crore, its reserves & surplus amounted to Rs.745 crore.
The growth in the first half of FY16 was broad based across discovery services, development and manufacturing segments. The company cleared two US FDA audits of its clinical development facility during first half.
Dr Thomas Privatte has joined as the head of business development and Dr Gregory Bisacchi joined as head of discovery chemistry. Syngen serviced 221 clients including 8 of the top 10 global pharma companies during the first half of 2015.