Syngene International Q4 net rises 8% to Rs 84 crore

Contract research organisation Syngene International registered a 8 per cent jump in net profit at Rs 84 crore for the March quarter this year, compared with Rs 78 crore in the same period last year.

The revenue also increased by 35 per cent at Rs 426 crore, against Rs 315 crore.

"The FY18 has been a good year for Syngene and we are happy to have delivered consistently improving revenue growth rates through the year. The Q4 growth rates were particularly strong at 35 per cent, due to strong underlying performance," Syngene International chief executive officer Jonathan Hunt said in a statement here.

Syngene's Chemical Development and Discovery services continued to drive up revenue growth, strongly supported by its biologics business during the January to March quarter.

During FY18, the company's net profit increased by 6 per cent at Rs 305 crore and revenue by 17 per cent at Rs 1,485 crore.

During the March quarter, the company signed a multiyear strategic collaboration with GSK that will focus on accelerating drug discovery using Syngene's discovery services platforms, the release said.

Syngene and Merck KGaA also signed an agreement extending their ongoing collaboration until 2019.

Syngene's manufacturing facility in Bangalore also received accreditation from the PMDA, the regulatory authority for the Japanese market.