Revenue from operations increased by 25% YoY to Rs 808 crore during the period under review.

EBITDA improved by 25% to Rs 235 crore in Q1 FY24 from Rs 188 crore in Q1 FY23. EBITDA margin in Q1 FY24 was 28.3% as against 28.5% in Q1 FY23.

Jonathan Hunt, managing director and chief executive officer, Syngene International, 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.

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.

Also during the quarter, we were pleased to receive US FDA approval for our API facility in Mangalore. This approval reflects the robust quality standards applied in all our operations and represents an important building block for our small molecule commercial manufacturing strategy.

Finally, we completed the acquisition of development land in Hyderabad to support the long-term growth ambitions of our Research Services division.”

Syngene International is an integrated research, development, and manufacturing services company serving the global pharmaceutical, biotechnology, nutrition, animal health, consumer goods, and specialty chemical sectors.

The scrip had advanced 6.74% to hit the day's high at 812.95, which is also a 52-week high for the counter.