Syngene International Ltd posts consolidated PAT of Rs. 102.2 crore in Q3 FY2020-21

Syngene International Ltd has reported financial results for the period ended December 31, 2020.

Financial Results (Q3 FY20-21) - QoQ Comparison

The company has reported total income of Rs.601.6 crores during the period ended December 31, 2020 as compared to Rs.533.4 crores during the period ended September 30, 2020.

The company has posted net profit / (loss) of Rs.102.2 crores for the period ended December 31, 2020 as against net profit / (loss) of Rs.84.1 crores for the period ended September 30, 2020.

The company has reported EPS of Rs.2.55 for the period ended December 31, 2020 as compared to Rs.2.10 for the period ended September 30, 2020.

Financials	Q3 FY20-21	Q2 FY20-21	% Change
Total Income	₹ 601.6 crs	₹ 533.4 crs	12.79%
Net Profit	₹ 102.2 crs	₹ 84.1 crs	21.52%
EPS	₹ 2.55	₹ 2.10	21.43%

Financial Results (Q3 FY20-21) - YoY Comparison

The company has reported total income of Rs.601.6 crores during the period ended December 31, 2020 as compared to Rs.539.1 crores during the period ended December 31, 2019.

The company has posted net profit / (loss) of Rs.102.2 crores for the period ended December 31, 2020 as against net profit / (loss) of Rs.91.8 crores for the period ended December 31, 2019.

The company has reported EPS of Rs.2.55 for the period ended December 31, 2020 as compared to Rs.2.31 for the period ended December 31, 2019.

Financials	Q3 FY20-21	Q3 FY19-20	% Change
Total Income	₹ 601.6 crs	₹ 539.1 crs	11.59%
Net Profit	₹ 102.2 crs	₹ 91.8 crs	11.33%
EPS	₹ 2.55	₹ 2.31	10.39%

Financial Results (9 Months ended FY 20-21) - YoY Comparison

The company has reported total income of Rs.1571.9 crores during the 9 months period ended December 31, 2020 as compared to Rs.1465.7 crores during the 9 months period ended December 31, 2019.

The company has posted net profit / (loss) of Rs.244.3 crores for the 9 months period ended December 31, 2020 as against net profit / (loss) of Rs.291.9 crores for the 9 months period ended December 31, 2019.

The company has reported EPS of Rs.6.10 for the 9 months period ended December 31, 2020 as compared to Rs.7.33 for the 9 months period ended December 31, 2019.

Financials	9 Months ended FY20-21	9 Months ended FY19-20	% Change
Total Income	₹ 1571.9 crs	₹ 1465.7 crs	7.25%
Net Profit	₹ 244.3 crs	₹ 291.9 crs	-16.31%
EPS	₹ 6.10	₹7.33	-16.78%

Commenting on the results, Mr Jonathan Hunt, Managing Director and Chief Executive Officer, Syngene International Ltd. said, "We are pleased to report thirdquarter growth in line with our guidance with revenue from operations growing 13% while PAT was up 11%. Sustained focus on employee and campus safety helped us maintain near-normal operations across all our campuses despite the continuing pandemic.

Earlier in the quarter, we signed an agreement with Deerfield Discovery and Development (3DC) to advance therapeutic discovery projects from target validation through to pharmacological proof of concept and preclinical evaluation, both in large and small molecules. As part of this agreement, 3DC has awarded us four new IDD projects. Integrated drug discovery (IDD) is a strategic focus area for the Company. This reflects our ability to deliver projects from early discovery to the clinic. During the quarter, our scientists have continued to support the government and the community in the fight against the coronavirus by using our domain knowledge and infrastructure.

Overall, the third quarter performance puts the Company on course to close the year in line with our guidance."

Shares of Syngene International Ltd was last trading in BSE at Rs.610.1 as compared to the previous close of Rs. 599.05. The total number of shares traded during the day was 25708 in over 919 trades.

The stock hit an intraday high of Rs. 618.65 and intraday low of 603.05. The net turnover during the day was Rs. 15749557.

Source : Equity Bulls

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