After a muted Q1, Syngene guides for double-digit top line growth

But ongoing capex and depreciation may weigh on bottom line

The Syngene International stock ended 1 per cent lower after the company reported a marginal growth in revenues in the June quarter. The top-line performance was pegged back by the disruption in its operations in April because of the Covid-19 pandemic. However, sales growth led by discovery services was in line with the management’s guidance of flat revenue performance in the June quarter. 

The company, which offers contract research services to pharma companies, expects growth to return in the September quarter of FY21. 

Despite pressure on revenues in the June quarter, the company reported a steady operating performance. Operating profit margins at