Syngene International has unveiled its full-year and fourth quarter results for the fiscal year 2024. The company reported a nine percent increase in revenue from operations for the full year, reaching Rs. 3,489 crore, accompanied by a 12 percent rise in profit after tax (PAT), before exceptional items, totaling Rs. 519 crore. However, for the fourth quarter, revenue from operations witnessed an eight percent decline year-on-year to Rs. 917 crore, while PAT increased by six percent to Rs. 189 crore.

Jonathan Hunt, Managing Director and CEO of Syngene International, attributed the fourth quarter's performance to reduced demand for research and development services within the US biotech sector, stemming from a challenging funding environment. Despite this, the company delivered growth during the year, driven by investments in development and manufacturing divisions, particularly in biologics.

Syngene anticipates a recovery in demand for research and development services, driven by recent funding influxes into the US biotech sector. Looking ahead to fiscal year 2025, the company expects revenue growth in the range of high single digits to low double digits, with momentum building throughout the year.

Sibaji Biswas, CFO and Executive Director of Syngene International, highlighted proactive cost management strategies and strong net cash flow generated from operating activities, which funded capital expenditure and strategic acquisitions.

The company also announced new appointments to its board, including Nilanjan Roy as an independent Non-Executive Director and Sibaji Biswas' elevation to the position of director, designated as Chief Financial Officer and Executive Director.

Syngene International's commitment to innovation and strategic investments position it as a leading integrated provider of research, development, and manufacturing services.

Syngene International has unveiled its full-year and fourth quarter results for the fiscal year 2024. The company reported a nine percent increase in revenue from operations for the full year, reaching Rs. 3,489 crore, accompanied by a 12 percent rise in profit after tax (PAT), before exceptional items, totaling Rs. 519 crore.