Latest News | Syngene Q1 Net Profit Up 26 Pc to Rs 93 Crore

New Delhi, Jul 26 (PTI) Contract manufacturing services firm Syngene International on Wednesday said its consolidated net profit increased 26 per cent to Rs 93 crore in the June quarter.

The company had reported a net profit of Rs 74 crore in the April-June quarter of last fiscal.

Also Read | What Is No-Confidence Motion? Will Modi Government Survive No-Trust Vote in Lok Sabha? Here’s All You Need To Know.

Revenue rose to Rs 832 crore for the first quarter of the current fiscal as against Rs 660 crore in the year-ago period, Syngene International said in a regulatory filing.

Syngene International Chief Financial Officer Sibaji Biswas said the financial performance of the company is in line with the revenue growth guidance for the year on a constant currency basis.

Also Read | Hyderabad Shocker: Man Throws Himself Under Moving Bus, Dies; Chilling Video of Suicide Goes Viral.

"We made investments in growing our portfolios in biologics manufacturing and discovery services. Despite these investments, the company will continue to maintain a strong balance sheet and a low debt profile," he added.

Shares of the company on Wednesday ended 1.84 per cent down at Rs 761.65 apiece on the BSE.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)