New Delhi, Contract research and manufacturing services firm Syngen International on Wednesday said its consolidated net profit rose 6 per cent to Rs 189 crore in Q4FY24.
The company had reported a net profit of Rs 179 crore in the same period a year ago.
Syngene International said in a regulatory filing that income declined to Rs 933 crore in the period under review, compared to Rs 1,017 crore in the year-ago period.
He said the company's net profit for the financial year ending March 31, 2024 stood at Rs 510 crore, while in 2022-23 it was Rs 464 crore.
The company said that total income last year stood at Rs 3,579 crore, while in FY2023 it was Rs 3,26 crore.
Syngene International MD said, "Although fourth quarter performance was below expectations, the underlying factors – lower demand for research and development services within US biotech due to the tough funding environment – are well understood and already improving. "is showing positive signs." said Jonathan Hunt, a CEO.
The company had reported a net profit of Rs 179 crore in the same period a year ago.
Syngene International said in a regulatory filing that income declined to Rs 933 crore in the period under review, compared to Rs 1,017 crore in the year-ago period.
He said the company's net profit for the financial year ending March 31, 2024 stood at Rs 510 crore, while in 2022-23 it was Rs 464 crore.
The company said that total income last year stood at Rs 3,579 crore, while in FY2023 it was Rs 3,26 crore.
Syngene International MD said, "Although fourth quarter performance was below expectations, the underlying factors – lower demand for research and development services within US biotech due to the tough funding environment – are well understood and already improving. "is showing positive signs." said Jonathan Hunt, a CEO.
