Syngene International Limited saw net revenues improve by 31 per cent YoY in Q4 FY23 to ₹994 crore, compared to ₹758 crore in the same quarter last year. PAT was up by 21 per cent YoY to ₹178 crore compared to ₹147 crore in Q4 FY22.
According to the company, all divisions contributed to growth in the fourth quarter, with Discovery Services and Dedicated Centres displaying sustained growth.
Growth in development services was driven predominantly by orders from existing clients, reflecting the high service levels and sustained on-time delivery. Manufacturing services continued to support the long-term partnership with Zoetis, following the successful regulatory inspections by the US, European, and UK regulatory authorities, it added.
For the full year ending March 31, 2023, revenue from operations was up 23 per cent YoY to ₹3,193 crore, compared to ₹2,604 crore, resulting in profit after tax, before exceptional items, up 10 per cent to ₹464 crore.
Optimistic outlook
Jonathan Hunt, Managing Director and Chief Executive Officer, Syngene International Limited, said, ”Strong growth in the fourth quarter, added to a positive performance over the course of the year, delivered full-year results ahead of our upgraded guidance. Looking ahead, we are optimistic—despite challenges such as inflation, geopolitical uncertainties, and recessionary pressures visible in some regions of the world—that our performance over the last year and the progress we have made on the strategic development of the company position us well for the year ahead.”
The company announced earnings per share for this quarter of ₹4.46, compared to ₹3.71 in the same quarter last year.