Bengaluru, January 25, 2017: Commenting on the results, Mr. Jonathan Hunt, Chief Executive Officer - Syngene International Limited said, “We are happy to report revenue and EBITDA growth of 23% for the third quarter. EDITDA and PAT margins continue to be strong at 37% and 21% respectively, although PAT growth of 12% was impacted by comparison to an unusually strong prior year performance. During the quarter we made good progress on client service delivery across all of the business verticals despite a fire incident damaging one of our research facilities; effective implementation of our Business Continuity Plan and continued normal operations of all our other facilities helped minimize the impact of the incident on our overall earnings for the quarter. We expect most of our losses to be recovered through insurance coverage and expect rebuilding of the damaged facility to continue throughout the remainder of the calendar year.”
About Syngene International
Syngene International Limited, (BSE code: 539268, NSE Id: SYNGENE, ISIN Id: INE398R01022) is one of Asia’s largest Contract Research Organizations. It provides discovery and developmental services for new molecular entities across multiple platforms including Small Molecules, Large Molecules, Antibody-Drug Conjugates and Oligonucleotides. These services are aimed towards bringing novel molecules to the market by supporting the R&D efforts of organizations across diverse sectors like pharma, biotechnology, nutrition and animal health. Syngene offers an integrated platform for R&D focussed organizations to optimize their R&D investments and develop their novel molecules with a distinctive cost advantage. In FY2016, Syngene serviced 256 clients including 8 of the top 10 global pharma companies. For more details, visit: www.syngeneintl.com