Syngene reports stable Q3FY20 numbers

Syngene International reported its third quarter result of FY20 on Wednesday after the market hours. The company’s Q3FY20 revenue was at Rs 539 crore, representing an increase of 11 per cent from the corresponding quarter last year. This was primarily driven by strong performances from Discovery & Development Services.

The EBITDA during the third quarter, improved by 10 per cent to Rs 173 crore as compared to the corresponding quarter of the previous year.

However, EBITDA margin during the period, dipped to 32 per cent from 33 per cent in the corresponding quarter of the previous year.

Profit after Tax (PAT) in the quarter, improved by 6 per cent YoY to Rs 92 crore. PAT margin was at 17 per cent, as against 18 per cent in Q3FY19.

The Board of Syngene has separated the roles of Managing Director and Chairperson. Consequently, Jonathan Hunt, currently the whole-time Director and Chief Executive Officer, will assume the role of Managing Director and Chief Executive Officer of the company and Kiran Mazumdar Shaw will become the Non-Executive Chairperson of the company with effect from April 01, 2020.

The stock of Syngene International in today's trading session dipped nearly 1.2 per cent to settled at Rs 305.45 apiece.