Syngene International, the contract research arm of Biocon, on Thursday reported a 31% growth in net profit at R59 crore on a year on year basis for the third quarter ended December, on the back of all round growth across verticals. It had posted a net profit of R45 crore in the corresponding quarter last year, while during the September quarter it had posted a net profit of R52 crore.
The total income for the quarter went up 23% year on year to R281 crore on the back of sustained performance by all its business verticals. The company’s operating profit grew 23.2% to R69 crore compared to R56 crore in the year ago period.
“We have seen a sustained performance by all our three verticals such as dedicated centres, discovery services as well as development and manufacturing services,” Peter Bains, executive director and chief executive officer, Syngene International Limited said.