&w=3840&q=100)
Syngene International tumbles 10% as Q4 profit slips; key highlights here
Shares of Syngene International plunged over 10 per cent in Thursday's intraday session after the company reported a 3 per cent year-on-year (Y-o-Y) decline in net profit for the fourth quarter of the financial year 2025.
Syngene's stock fell as much as 10 per cent during the day to ₹674.25 per share, the worst intraday loss atleast in over five years, according to Bloomberg data. The stock trimmed losses to trade 8.8 per cent lower at ₹683 apiece, compared to a 0.23 per cent decline in Nifty50 as of 9:40 AM.
The company's shares snapped their two-day gains on Thursday, after recovering over 15 per cent from its lows of 652, which it hit earlier this month. The stock has fallen 20 per cent this year, compared to a 2.6 per cent advance in the benchmark Nifty50. The company has a total market capitalisation of ₹27,499.3 crore, according to BSE data.
Syngene International Q4 Results breakdown
The healthcare company's net profit narrowed by 3 per cent Y-o-Y in the fourth quarter of the financial year 2025, while revenue from operations grew by 11 per cent to ₹1,018 crore as compared to the same period last year. The reported revenue stood at ₹1,037 crore. The company's Ebitda (earnings before interest, taxes, depreciation, and amortisation) stood at ₹363 crore, a 9 per cent increase. The Ebitda margin stood at 35 per cent.
Syngene International management commentry
The subdued first half was impacted by a sector-wide downturn in US biotech funding, while the second half of the year showed signs of recovery, according to Peter Bains, managing director and chief executive officer of Syngene International. Looking ahead, he expressed cautious optimism, citing sustained business momentum driven by a growing pipeline in both small and large molecules. This will be supported by new pilot programmes and the conversion of existing pilots within discovery services.
The highlight of the quarter was the acquisition of a state-of-the-art biologics manufacturing facility in the US, strengthening Syngene's position in the fast-growing biologics CDMO sector and providing a strategic foothold in the US market, according to Bains. "Our biologics CDMO business witnessed robust growth supported by commercial manufacturing alongside new development projects. High conversion of pilot projects into full programmes in discovery services supported the growth in our research division."
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
31 minutes ago
- Economic Times
Sebi probes Jane Street's derivative trades over 3 years: Sources
India's market regulator, SEBI, is investigating Jane Street's derivatives trading activities over the past three years, suspecting potential manipulation of benchmark stock indexes. The probe, triggered by unusually high profits and complaints from other firms, focuses on algorithmic trading strategies in NSE's Nifty 50 and banking indexes. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads INCREASED SCRUTINY Tired of too many ads? Remove Ads India's markets regulator is investigating Jane Street's derivatives trades stretching back three years to check if one of the world's largest quant trading firms intended to manipulate the country's benchmark stock indexes, according to two sources with direct knowledge of the investigation - the largest such into a global trading firm - follows a series of steps taken by the Securities and Exchange Board of India (SEBI) to cool the frenzy in India's derivatives is investigating Jane Street, Jane Street Singapore Pte and JSI Investments, the firm's India unit, and studying the firms' algorithmic trading strategies in the National Stock Exchange's index of top 50 stocks and its index of banking stocks, one of the sources said."The investigation is to establish whether there was a repeated pattern of taking outsized derivatives positions in index constituents, particularly bank stocks, then trade the index in the physical market to profit from its position," the source India does not impose any restrictions on traders from taking intraday positions in derivative as well as physical markets, surveillance systems typically signal repeated patterns of taking positions in excess of 10 billion Indian rupees ($116.93 million).A report is being prepared with assistance from the stock exchange, following which the U.S.-based trading firm will be sent a regulatory notice to explain its sources declined to be named as the investigations are confidential. Jane Street and SEBI did not respond to several requests for investigation stemmed from large profits made by Jane Street on its India derivatives positions - nearly five times the profit made by the second largest trading firm, the second source for high-frequency trading and its dominance of the exchange traded funds market, Jane Street's net trading revenue for 2024 stood at $20.5 billion globally, according to Bloomberg. As of December 2024, the firm's revenue from India operations stood at 200 billion Indian rupees ($2.34 billion), the second source firm started its India operations in December from other large institutional firms on Jane Street's trade practices also prompted the investigation, the sources Street last year sued a rival hedge fund, Millennium Management, accusing it of stealing a valuable in-house trading strategy. At a court hearing, it was revealed that the strategy involved India options and had generated $1 billion in profits for Jane Street in 2023. The two firms settled the case in investigation has also prompted SEBI to increase monitoring of intraday positions to watch for large concentrated trades in index stocks, the two sources and stock exchanges are currently drafting a mechanism to do this, said the sources, adding that large positions for consecutive days could prompt thresholds for such investigations are still being will also be asked to periodically audit algo programs of large trading firms, which are already required to get approval from exchanges before using the programs.($1 = 85.8370 Indian rupees)
Business Standard
40 minutes ago
- Business Standard
Sensex gains over 239 pts; IT shares rally
The key equity indices witnessed modest gains in afternoon trade, buoyed by the Reserve Bank of India's firm monetary policy stance and positive global sentiment. The Nifty traded tad above the 25,100 level. IT shares extended gains for the fourth consecutive trading session. At 14:30 IST, the barometer index, the S&P BSE Sensex, added 239.15 points or 0.29% to 82,428.14. The Nifty 50 index rose 100.65 points or 0.40% to 25,103.70. The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 1.07% and the S&P BSE Small-Cap index added 1.12%. The market breadth was strong. On the BSE, 2,739 shares rose and 1,393 shares fell. A total of 152 shares were unchanged. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rose 0.39% to 14.69. Economy: Indias forex reserves dropped by $1.237 billion to $691.485 billion for the week ended May 30, the RBI said on Friday. For the week ended May 30, foreign currency assetsa major component of the reservesfell $1.952 billion to $584 billion, according to the RBI data. The gold reserves increased by $723 million to $84.305 billion during the week, the RBI said. The Special Drawing Rights (SDRs) were down by $2 million to $18.569 billion, the apex bank said. Indias reserve position with the IMF was also down by $6 million at $4.395 billion in the reporting week, the apex bank data showed. Buzzing Index: The Nifty IT index added 1.10% to 37,705.55. The index gained 2.42% in four consecutive trading sessions. Oracle Financial Services Software (up 4.13%), Mphasis (up 2.69%), Persistent Systems (up 1.88%), Coforge (up 1.21%), Tata Consultancy Services (up 1.21%), LTIMindtree (up 1.15%), Infosys (up 0.69%), Wipro (up 0.57%), Tech Mahindra (up 0.48%), and HCL Technologies (up 0.45%) advanced. Numbers to Track: The yield on India's 10-year benchmark federal paper rose 0.46% to 6.267 from the previous close of 6.230. In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 85.5875 compared with its close of 85.6875 during the previous trading session. MCX Gold futures for 5 August 2025 settlement shed 0.22% to Rs 96,822. The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.31% to 98.87. The United States 10-year bond yield fell 0.64% to 4.485.
&w=3840&q=100)
First Post
40 minutes ago
- First Post
Cone crisis? Why ice cream prices are soaring this summer
An analysis by British consultancy firm Rift found that the cost of ice lollies and cones in UK supermarkets increased by 7.6 per cent in May. With the global ice cream market estimated at $81 billion (nearly Rs 7 lakh crore) in 2024, there is increasing attention on rising prices. Notably, coconut oil, a key ingredient in many ice cream products, has become more expensive, leading to the overall price hike read more An analysis found that prices of ice lollies and cones in UK supermarkets rose by 7.6 per cent in May. Image: Pixabay/Representational Summer and ice cream go hand in hand. But what if that chilled treat ends up costing more right when the heat is at its peak? An analysis by British business consultancy Rift found that prices of ice lollies and cones in UK supermarkets rose by 7.6 per cent in May. ALSO READ | Having ice cream to beat the heat? Here's why it's not the best idea With the global ice cream market valued at $81 billion in 2024, there is a growing focus on what is behind these changing prices. STORY CONTINUES BELOW THIS AD So, what's pushing ice cream prices up, and which parts of the world are behind the impact? We answer these questions: Why ice cream prices are rising this summer Coconut oil is an essential ingredient in many ice cream products, and its rising cost has pushed up ice cream prices this year. As demand continues to be higher than supply, prices are expected to go up further. Further price gains are likely as demand continues to outpace supply. Last year, the ice cream industry brought in close to $80 billion in sales. Image: Pixabay/Representational Last week, coconut oil from the Philippines, being sold wholesale in Netherlands' Rotterdam, crossed $2,700 per metric ton. That's almost twice the price compared to the same time last year and roughly 200 per cent higher than the average between 2000 and 2020. The earlier peak was in 2011, when prices touched around $2,300, as per a Bloomberg column by Javier Blas. Coconut oil is widely used in the food industry due to its high melting point. It helps ice cream, especially gelatos and varieties with hard shells, stay solid at room temperature without changing the taste or texture. Ice cream is a major global industry. Last year, it brought in close to $80 billion in sales. What is driving coconut oil prices up? Coconuts grow best in tropical climates with plenty of sunshine and rain. But over the past year, weather patterns have disrupted this balance. The El Nino phenomenon, which causes warmer sea surface temperatures across the Pacific, brought drier conditions to Southeast Asia from June to October last year. This has had a direct impact on coconut production in Indonesia and the Philippines, which together supply about three-quarters of the world's coconut oil. STORY CONTINUES BELOW THIS AD Because coconut trees take around a year to bear fruit, the dry spell has resulted in smaller yields in 2024, reducing the available supply. Coconut oil is an essential ingredient in many ice cream products. Image: Pixabay/Representational However, this decline alone was not enough to cause the sharp spike in prices. The bigger factor lies in a different part of the coconut market: biofuels. In the Philippines, the government requires diesel to be blended with coco methyl ester, a fuel additive made from coconut oil. At first, this policy had little effect on overall supply. But in October last year, the blending target was raised to 3 per cent, with plans to reach 4 per cent by late 2025 and 5 per cent by the end of 2026. ALSO READ | How a Chinese company beat Starbucks, McDonald's to become world's largest fast-food chain Which countries should be watched? The Philippines is the largest producer in this market, accounting for 45 per cent of the world's coconut oil. As the government shifts large volumes of coconuts into biofuel production, ice cream prices in the United States and Europe are expected to rise as a result. STORY CONTINUES BELOW THIS AD If current plans are followed, the Philippines will divert around 4.5 billion coconuts to produce the 500 million litres of coco methyl ester needed to meet its biodiesel targets by late 2026, according to Bloomberg. Coconuts grow best in tropical climates with plenty of sunshine and rain. Image: Pixabay/Representational Indonesia, the second-largest supplier, contributes 28 per cent, followed by India at 13 per cent. The rest of the supply comes from about a dozen other tropical nations, including Vietnam, Bangladesh, Sri Lanka, Mexico and Ivory Coast. Due to poor weather in 2023 and 2024, global production is expected to fall to 3.6 million metric tons in 2024-25, a drop of nearly 10 per cent from the previous season. Early estimates suggest that production will likely remain low in 2025-26 as well. Are chocolates adding to the problem? To cut costs and protect profit margins, more chocolate manufacturers are replacing cocoa with cheaper alternatives like coconut oil. Even at current high prices, coconut oil remains more affordable than cocoa. It is a common substitute for cocoa butter, especially in vegan and dairy-free chocolates. This growing shift in the chocolate industry is adding further demand pressure to an already strained coconut oil supply. STORY CONTINUES BELOW THIS AD
