Syngene International Q3 net up 31% at Rs 59 cr

Biocon's contract research arm Syngene International has reported a 31.25 per cent rise in its net profit to Rs 58.8 crore for the third quarter ended December 31.
The company had posted a net profit of Rs 44.8 crore for the corresponding period of the previous fiscal, Syngene International said in a BSE filing.
Standalone total income from operations rose to Rs 280.4 crore for the quarter under consideration as against Rs 227.6 crore for the same period a year ago.
"Our Q3 results for FY16 saw a growth of 23 per cent in revenues on the back of a sustained performance by all of our three business verticals -- dedicated centres, discovery services as well as development and manufacturing services," Syngene International ED and CEO Peter Bains said.

The company has also "successfully cleared USFDA audit for our clinical development facility which occurred during the quarter with no 483 observations", he said during a conference call on the results.
Syngene has now cleared five United States Food and Drug Administration (USFDA) audits, the company said.
Shares of Syngene International were trading at Rs 390.20 in the morning trade, up 6.15 per cent on BSE.