Syngene clocks 12% growth in FY21 revenue at Rs. 2,184 crore

Bengaluru: Syngene International Limited has announced its fourth-quarter and full-year results. The Company reported quarterly revenue from operations of Rs. 659 Cr and Rs. 2,184 Cr for the full year. Underlying revenue from operations (excluding export incentives) for the quarter grew 13% compared with the same period last year and by 12% for the full year.

Profit after tax (before exceptional gain) for the quarter increased by 15% year-on-year to Rs. 138 Cr, and by 4% to Rs. 382 Cr for the full year.

Commenting on the results, Jonathan Hunt, Managing Director and Chief Executive Officer, Syngene International Limited, said, “Syngene’s fourth-quarter revenue reflects steady growth from Discovery Services, Manufacturing Services, and the Dedicated Centres through the year. The highlight of the quarter was the extension of our long-standing partnership with Bristol Myers Squibb (BMS) until 2030. This renewal underlines the value we deliver as BMS’s largest R&D hub outside the US. Under the new agreement, we will increase the number of scientists working on BMS projects and expand our scope of work to cover new areas of science.”

Hunt added: “Despite the challenge posed by the pandemic, our commitment to prudent management and the resilience of our workforce has enabled us to navigate through a challenging year to deliver a solid performance. The pandemic will continue to be a factor in the coming year and we have taken this into account as we plan for continued growth in the next 12 months.”