The revenues for Syngene in the second quarter (July-September) were up 10.6 percent at Rs 334.2 crore versus Rs 303 crore for the same quarter last fiscal. EBITDA to was up 7.5 percent at Rs 113.5 crore versus Rs 105.6 crore year on year (YoY). Margins came in at 33.9 percent versus 34.9 percent Q2FY17.
Profits for the company jumped 3 percent at Rs 76.9 crore versus Rs 74.7 crore YoY. Total Expenses were up 12.3 percent at Rs 221.7 crore.
Throwing more light on the numbers Jonathan Hunt, CEO of Syngene said they were happy to see uptick in revenues because two quarters ago they were at minus 6 percent but now momentum is back.
In December last year a massive fire broke out at Syngene facility near Bengaluru.
From revenue point of view they have now surpassed the level they were at pre fire. However, on the operational side the building is still out of action, which was about 20 percent of the total capacity.
The reconstitution of that establishment is proceeding as per plan and will bring in new capacity for the first quarter of next year.
He said all the business verticals are doing well. Chemical development within the manufacturing product group had a good quarter. So all this means good momentum for the second half.
On the margin front, he said Syngene has bene a good margin performer in the industry that operate in the contract research services space. They exhibit good cost management and add good value to clients, said Hunt.
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