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ICICI Direct Report
Syngene International Ltd. reported mixed Q1 FY22 results.
Revenues grew 41% YoY to Rs 658.5 crore amid lower base, normalisation of all verticals and manufacturing of Remdesivir.
Seasonality impacted sequential growth (de-grew 9.7%).
Ebitda margins contracted 178 basis points YoY to 27.8%, owing to higher raw material consumptions related to Remdesivir manufacturing.
Ebitda grew 32.5% YoY to Rs 165 crore. Consequent profit after tax was at Rs 77.3 crore (up 33.3% YoY).
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