Syngene Q2 Net up 54% at Rs 75 crore

Biocon's contract research arm Syngene International today posted 54.02 per cent rise in its net profit at Rs 74.7 crore for the second quarter ended September 30, driven by discovery and R&D centre business verticals.
The company, which had posted a net profit of Rs 48.5 crore during the same period of the previous fiscal, also announced acquisition of bio-informatics services of Strand Life Sciences along with a team of data scientists.
Net sales of the company rose to Rs 294.7 crore for the second quarter, as compared to Rs 256.1 crore during the same period of previous fiscal, Syngene International said in a regulatory filing.

"It has been a good quarter for Syngene with top and bottom lines recording strong growth,' Syngene International CEO Jonathan Hunt said.
The company also signed a strategic collaboration with Amgen Inc for setting up a dedicated centre that will have Syngene scientists working closely with Amgen's global scientific teams on small and large molecule research, he added.
The company also acquired the bio informatics assets of Strand Life Sciences along with a team of data scientists which strengthens the company's data analytics capabilities and opens new avenues for providing value added services to clients, Hunt said.
Syngene, however, did not share financial details.

Shares of the company today ended at Rs 543.05 apiece on the BSE, up 7.31 per cent from previous close.