Shares of Syngene International opened up green on 27 July, Thursday, after the company reported a robust quarterly report for the June quarter on 26 July.

The listed contract research and manufacturing services arm of Biocon, Syngene, reported a 26% YoY increase in the net profit to Rs 93 crore for the quarter under review.

The company’s operating revenue jumped 26% YoY to Rs 832 crore, against the Rs 660 crore posted in the year-ago quarter.

The EBITDA was Rs 235 crore from the Rs 188 crore in the year-ago quarter, a 28.3% increase in the same period last year. The EBITDA margin where marginally down by 226.2% against the 26.8% in the year-ago quarter.

The events in this quarter included the acquisition of a biologics manufacturing facility in Bangalore from Stelis Biopharma Ltd, the regulatory approval from USFDA for the commercial manufacturing plant in Mangalore, and the purchase of additional land in Hyderabad to support further growth.

Jonathan Hunt, MD and CEO of Syngene International Limited said, “First quarter performance was strong, led by Development and Manufacturing Services and well supported by our research divisions: Discovery Services and the Dedicated Centers.”

He added, “Earlier this month we announced our intention to acquire a site offering additional biologics manufacturing capacity close to our existing Bangalore campus. With 20,000 liters of installed biologics capacity – and scope for further expansion – the site strengthens our position as a leading biologics contract development and manufacturing service provider.”

At 9:55 am, the shares of Syngene International reached an intraday high of Rs 813 a piece on NSE.

The stock is trading 5.60% above its previous close at Rs 805 on NSE.