Syngene returns to quarterly profit, but half-year revenue and cash flow weaken
SYNGENE · price
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On the reaction day the stock moved 9.6 pts more than Nifty Smallcap 250 and 9.7 pts more than its Healthcare Research Analytics & Technology peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Syngene's unaudited consolidated Q2 revenue rose 13.1% to Rs8,327 million and profit reached Rs322 million, versus a Rs90 million loss last year. The margin before interest, tax, depreciation and amortisation improved in Q2 but narrowed for H1. H1 revenue fell 12.1% to Rs15,687 million and profit dropped to Rs232 million from Rs1,538 million. H1 exceptional losses were Rs202 million and operating cash outflow was Rs1,432 million.
Quarterly recovery supports sentiment, but weaker half-year revenue and profit, exceptional losses and cash outflow could weigh on the share price.