Syncom Formulations gains after Q1 PAT rises over 73% YoY

Syncom Formulations (India) added 1.94% to Rs 16.29 after the company reported 73.4% increase in consolidated net profit to Rs 7.63 crore in Q1 FY25 from Rs 4.40 crore in Q1 FY24.

Net sales rose by 45.8% year-over-year (YoY) during the quarter to Rs 87.26 crore.

Total expenditure added up to Rs 76.80 crore, up by 43.9% as compared with the same period last year. This was primarily due to higher raw material costs (up 134.1% YoY), higher employee expenses (up 26.5% YoY) and higher other expenses (up 23.9% YoY).

Profit before tax in Q1 FY25 stood at Rs 10.10 crore, up by 65.3% from Rs 6.11 crore recorded in Q1 FY24.

Syncom Formulations (India) is engaged in the manufacturing and dealing in pharmaceutical drugs and formulations, and trading of commodities. It manufactures and markets a range of pharmaceutical formulations in various dosage forms, such as tablets, capsules, liquids orals, liquid vials and ampoule injections and dry powder injections, ophthalmic preparations, dry syrups and suspensions, ointments, creams, gel, ORS and jelly.

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