**Syngene International Sees Robust Growth in Q1: Revenue Up 11%, Net Profit Soars 59%**
**Biocon Subsidiary Reports Strong Performance in Research Services and Biologics Manufacturing**
Syngene International, a leading contract research organization and subsidiary of Biocon, has announced a stellar performance for the first quarter, with revenue increasing by 11% to Rs 875 crore. This significant growth is largely driven by the company’s research services and biologics manufacturing segments, which continue to gain traction in the market.
The company’s net profit has also witnessed a remarkable jump of 59% to Rs 87 crore, reflecting its ability to capitalize on the growing demand for outsourced research and development services. This impressive performance is a testament to Syngene’s commitment to delivering high-quality services to its clients, while also investing in its capabilities and infrastructure.
**Expansion Plans on Track**
Syngene has also made significant progress in its expansion plans, with the commencement of operations at its new facility, Unit III, in Bengaluru. This state-of-the-art facility is designed to cater to the growing demand for research services and biologics manufacturing, and will further enhance the company’s capabilities in these areas.
In addition, Syngene is advancing its preparations for the launch of its Bayview facility in the US, which is expected to further strengthen its global presence and capabilities. This facility will provide the company with a strategic foothold in the US market, enabling it to tap into the growing demand for outsourced research and development services.
**Market Context**
The contract research organization (CRO) market is expected to continue growing, driven by the increasing demand for outsourced research and development services from pharmaceutical and biotechnology companies. The biologics manufacturing segment is also witnessing significant growth, driven by the increasing adoption of biologics in the treatment of various diseases.
Syngene’s strong performance in Q1 is a reflection of its ability to capitalize on these trends and position itself as a leader in the CRO and biologics manufacturing segments. With its expansion plans on track and a strong pipeline of projects, Syngene is well-positioned to continue its growth momentum in the coming quarters.
