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Syngene announces Q1 FY21 results

FWM by FWM
July 23, 2020
in Business
0
Mr. Jonathan Hunt, Managing Director and Chief Executive Officer - Syngene International Limited,

Mr. Jonathan Hunt, Managing Director and Chief Executive Officer - Syngene International Limited,

Revenue Rs. 437 Cr; EBITDA Rs. 140 Cr; PAT Rs. 58 Cr

  • CRISIL long term rating upgraded to AA+ from AA

 Bengaluru, July 21, 2020:

Syngene International Limited today announced its Q1 FY21 results. The Company posted quarterly revenue of Rs. 437 Cr, in line with guidance: Profit After Tax, was impacted less than expected, at Rs. 58 Cr for the quarter.

Commenting on the results, Mr. Jonathan Hunt, Managing Director and Chief Executive Officer – Syngene International Limited, said: “In line with our guidance, Q1 revenue was flat at Rs. 437 Cr compared to the same quarter last year due to the temporary suspension of operations during the nationwide lockdown. However, the implementation of protective measures allowed all divisions to restart gradually and operate at close to normal levels for the last six weeks of the quarter. Across the Company, our teams have worked hard to get projects back on schedule.

ADVERTISEMENT

Recent good news was the improved credit rating from CRISIL to AA+ with a stable outlook. This is welcome recognition from the rating agency of the Company’s business model, strong client relationships, robust processes and sound risk profile.

Overall Q1 performance was as expected and we look forward to returning to growth in 2Q.”

  

Quarterly Financial Highlights (All numbers in INR Cr except Margins)

  Q1 FY21 Q1 FY20 YoY Change (%)
Revenue 437 441 -1
Revenue from operations 422 421 0.2
EBITDA 140 142 -1
EBITDA Margin (%) 32 32  
PAT 58 72 -19
PAT Margin (%) 13 16  

Tags: Q1 FY21 resultsSyngene International Limited
FWM

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