Syngene International Ltd Q2FY21 consolidated net profit at Rs. 84.1 crore

Syngene International Ltd has reported financial results for the period ended September 30, 2020.

Financial Results (Q2 FY20-21) - QoQ Comparison

The company has reported total income of Rs.533.4 crores during the period ended September 30, 2020 as compared to Rs.436.9 crores during the period ended June 30, 2020.

The company has posted net profit / (loss) of Rs.84.1 crores for the period ended September 30, 2020 as against net profit / (loss) of Rs.58 crores for the period ended June 30, 2020.

The company has reported EPS of Rs.2.10 for the period ended September 30, 2020 as compared to Rs.1.46 for the period ended June 30, 2020.

Financials	Q2 FY20-21	Q1 FY20-21	% Change
Total Income	₹ 533.4 crs	₹ 436.9 crs	22.09%
Net Profit	₹ 84.1 crs	₹ 58 crs	45%
EPS	₹ 2.10	₹ 1.46	43.84%

Financial Results (Q2 FY20-21) - YoY Comparison

The company has reported total income of Rs.533.4 crores during the period ended September 30, 2020 as compared to Rs.485.2 crores during the period ended September 30, 2019.

The company has posted net profit / (loss) of Rs.84.1 crores for the period ended September 30, 2020 as against net profit / (loss) of Rs.128.1 crores for the period ended September 30, 2019.

The company has reported EPS of Rs.2.10 for the period ended September 30, 2020 as compared to Rs.3.22 for the period ended September 30, 2019.

Financials	Q2 FY20-21	Q2 FY19-20	% Change
Total Income	₹ 533.4 crs	₹ 485.2 crs	9.93%
Net Profit	₹ 84.1 crs	₹ 128.1 crs	-34.35%
EPS	₹ 2.10	₹ 3.22	-34.78%

Financial Results (6 months ended FY 20-21) - YoY Comparison

The company has reported total income of Rs.970.3 crores during the 6 months period ended September 30, 2020 as compared to Rs.926.6 crores during the 6 months period ended September 30, 2019.

The company has posted net profit / (loss) of Rs.142.1 crores for the 6 months period ended September 30, 2020 as against net profit / (loss) of Rs.200.1 crores for the 6 months period ended September 30, 2019.

The company has reported EPS of Rs.3.57 for the 6 months period ended September 30, 2020 as compared to Rs.5.03 for the 6 months period ended September 30, 2019.

Financials	Half-Year Ended FY20-21	Half-Year Ended FY19-20	% Change
Total Income	₹ 970.3 crs	₹ 926.6 crs	4.72%
Net Profit	₹ 142.1 crs	₹ 200.1 crs	-28.99%
EPS	₹ 3.57	₹5.03	-29.03%

Commenting on the results, Mr. Jonathan Hunt, Managing Director and Chief Executive Officer - Syngene International Limited, said: "The second quarter saw a positive return to growth following a muted first quarter that was impacted by COVID-19, with second quarter revenue from operations growing 12% year-on-year and a PAT growth of 2%. This result reflects a robust operating performance as we have adapted to the COVID-19 situation. We are at near normal operating levels with all our scientists working on site with proper protective measures.

We are happy to continue to support the global health community in the fight against COVID-19 through our dedicated RT PCR testing laboratory, our research efforts and by developing and supplying reagents and oligonucleotides to diagnostic kit manufacturers.

The credit rating upgrade by ICRA is a further affirmation of Syngene's strong fundamentals and the confidence the market has in our growth story. We expect to sustain our growth through the second half and are making good progress towards achieving our full year guidance."

Shares of Syngene International Ltd was last trading in BSE at Rs.550 as compared to the previous close of Rs. 554.7. The total number of shares traded during the day was 17194 in over 986 trades.

The stock hit an intraday high of Rs. 566.6 and intraday low of 550. The net turnover during the day was Rs. 9588049.

Source : Equity Bulls

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