Syngene Posts 54% Rise In Q2 Profit

New Delhi: Biocon's contract research arm - Syngene International - on Thursday posted a 54.02 per cent rise in net profit at Rs 74.7 crore for the fiscal second quarter that ended on September 30, driven by the discovery and R&D centre business verticals.

The company, which had posted a net profit of Rs 48.5 crore for the corresponding period of the previous fiscal year, also announced acquisition of the bio-informatics services of Strand Life Sciences along with a team of data scientists.

Net sales rose to Rs 294.7 crore for the second quarter, as compared to Rs 256.1 crore in the year-ago period, Syngene International said in a regulatory filing.

"It has been a good quarter for Syngene with top and bottom lines recording strong growth,' Syngene International CEO Jonathan Hunt said.

The company also signed a strategic collaboration with Amgen Inc for setting up a dedicated centre that will have Syngene scientists working closely with Amgen's global scientific teams on small and large molecule research, he added.

The company also acquired the bio informatics assets of Strand Life Sciences along with a team of data scientists which strengthens the company's data analytics capabilities and opens new avenues for providing value added services to clients, Mr Hunt said.

Syngene, however, did not share financial details.

Syngene shares ended 7.31 per cent higher at Rs 543.05 apiece on the BSE, whose benchmark Sensex index finished up 0.52 per cent.