Syngene International Ltd reported a 23% increase in revenues for the first quarter ended June to INR2.90bn ($43m), buoyed by robust growth in its discovery services and development and manufacturing services verticals. Net profits for the quarter were up 28% to INR600m.
"From a revenue perspective Q1 was pleasing and gives us a robust platform for the rest of the year. We are on track to deliver our mid-term guidance for FY18," Syngene CEO Jonathan Hunt said at a post results media call. Syngene, which is the listed research services business of Biocon Ltd., had earlier established a mid-term revenue target of $250m in 2017-18
