Syngene International opens in the red; consolidated net profit for Q1FY21 falls by 19.44 per cent YoY

Syngene International Ltd., a contract research and manufacturing organization, announced its quarterly results on July 21, 2020. The company posted a consolidated net profit of Rs 58 crore for Q1FY21, which declined by 19.44 per cent, as compared to Q1FY20 when it reported Rs 72 crore.                                                                                                                                                         

The consolidated net sales reported in Q1FY21 came in at Rs 421.6 crore, which increased by 0.17 per cent YoY from Rs 420.9 crore in Q1FY20. At EBITDA level, the company stood at Rs 124.5 crore in Q1FY21 that increased by 2.81 per cent YoY. For Q1FY20, it posted an EBITDA of Rs 121.1 crore.                                                                                                                                                  

EBITDA margin as of Q1FY21 was at 29.53 per cent that increased by 76 bps YoY. The net profit margin in Q1FY21 came in at 13.76 per cent, which declined by 3.35 per cent YoY. The net profit margin in Q1FY20 was at 17.11 per cent.

On Wednesday at around 11 am, the stock is trading at 418.8 with a decline of 1.05 per cent on BSE.