Syngene International slips after large-cap firm reports mixed January-March quarter numbers

Syngene International slipped over 3.60 per cent on BSE on Thursday (April 25, 2024) after the CRDMO firm reported mixed fourth-quarter results a day ago.

After opening at Rs 683.65 on Thursday, Syngene International shares slipped to the day's low of Rs 668.85 each, a 3.65 per cent slide from Wednesday's closing price of Rs 694.20.

The stock of the firm was trading lower by 1.39 per cent, or Rs 9.65, at Rs 689.00 at 10:56 am on Thursday. 

Syngene is a contract research, development and manufacturing organization (CRDMO) that provides integrated discovery, development, and manufacturing services. 

Syngene International Q4 (conso) (yoy) results

The company's profit after tax (PAT) was up by 5.60 per cent to Rs 189 core against Rs 179 crore YoY.

Its revenue from operations slipped by 7.70 per cent to Rs 917 crore compared to Rs 994 crore YoY.

Syngene International's EBITDA was up by a mere 0.95 per cent to Rs 317 crore against Rs 314 crore a year ago.

The company's margin also jumped to 34.5 per cent compared to 31.5 per cent YoY.  

Dividend

The company has also announced a dividend of Rs 1.25/share.  

The record date for the dividend is June 28, 2024. 

Syngene International reported other income of Rs 16 crore, which was down from Rs 23 crore YoY. 

It had a tax expense of Rs 20 crore in Q4 compared to Rs 52 crore a year ago.