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Time of India
23-07-2025
- Business
- Time of India
Syngene Q1 profit up 59% to Rs 87 crore
Representative image BENGALURU: Syngene International, a subsidairy of Biocon , reported a 59 per cent year-on-year increase in profit after tax to Rs 87 crore in the first quarter ended June 2025, aided by revenue growth and a tax benefit from the transfer of gratuity funds to an employee trust. Revenue from operations rose 11 per cent to Rs 875 crore during the period. Ebitda grew 19 per cent year-on-year to Rs 224 crore, with margins improving to 25 per cent from 23 per cent a year earlier. CEO Peter Bains said the growth was led by the conversion of pilot programs into long-term contracts in the Research Services division. The company also progressed operations at its Biologics Unit III facility in Bengaluru and prepared for the launch of its Bayview site in the US later this year. It commissioned a new peptide laboratory during the quarter. The company said it underwent over 20 client and regulatory audits in Q1, including a USFDA GCP inspection of its Human Pharmacology Unit with no observations. Its Biologics facility received an Establishment Inspection Report with a Voluntary Action Indicated outcome. CFO Deepak Jain said operating Ebitda margins held around 24 per cent, supported by revenue growth and cost optimisation. Syngene said it remains on track to meet its full-year guidance. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Business Upturn
23-07-2025
- Business
- Business Upturn
Syngene International Q1 Results: Revenue grows 11% YoY to Rs 790 crore, Net profit jumps 59% YoY
Syngene International Limited reported strong financial results for the quarter ended June 30, 2025 (Q1 FY26), led by higher revenue and improved margins. For the quarter, the company's revenue from operations rose 11% year-on-year (YoY) to ₹875 crore, compared to ₹790 crore in Q1 FY25. Reported revenue, including other income, stood at ₹892 crore, up 10% YoY. Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) came in at ₹224 crore, growing 19% from ₹188 crore last year. The EBITDA margin improved to 25% from 23% YoY, driven by revenue growth and cost optimization. Net profit (PAT) surged 59% to ₹87 crore from ₹54 crore in the same quarter last year. The PAT margin expanded to 10% from 7% YoY. Key Financials: YoY comparison Metric Q1 FY25 Q1 FY26 YoY Change (%) Revenue from operations (₹ Cr) 790 875 ↑ 11% Reported revenue (₹ Cr) 808 892 ↑ 10% EBITDA (₹ Cr) 188 224 ↑ 19% EBITDA margin (%) 23 25 ↑ 200 bps Net profit (PAT) (₹ Cr) 54 87 ↑ 59% PAT margin (%) 7 10 ↑ 300 bps Commenting on the results, Peter Bains, Managing Director and CEO, highlighted that the performance was in line with expectations, supported by continued conversion of pilot programs into longer-term contracts in the Research Services business and progress in the Biologics manufacturing division. Deepak Jain, CFO, noted that the quarter's profitability also benefitted from a tax credit, and the company maintained a strong balance sheet to invest in capabilities and technology. Other business highlights included the successful completion of USFDA inspections, inauguration of a state-of-the-art peptide laboratory, and recognition by TIME and Statista as one of the world's most sustainable companies. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Time of India
28-06-2025
- Business
- Time of India
Mumbai crime branch arrests mastermind of Rs 50 crore Ponzi scam
Mumbai: The city crime branch on Friday arrested Deepak Kumar Jain (65), the alleged mastermind of the Ponzi investment scam involving nearly Rs 50 crore and more than 950 investors. The accused floated a fake business under the name AJ Enterprises, Traders and Franchise Service, promising high monthly returns on investments. Last week, the property cell of the crime branch arrested three directors of the company—Ankit Jain, Hetul Ranka, and Omkar Shivshankar Singh for allegedly defrauding hundreds of investors across Mumbai, Thane, Palghar, and Navi Mumbai. The latest arrest of Deepak Jain was made following fresh evidence linking him to the financial racket. The case came to light when actress Madhuri Pandey filed a complaint stating she and her son invested Rs 2 lakh after being lured by promises of 15% monthly returns in a stationery manufacturing venture. The accused claimed their firm ran a factory, AJ Copier, at MIDC Tarapur, and operated from an office at Shivam Chambers in Goregaon to appear legitimate. You Can Also Check: Mumbai AQI | Weather in Mumbai | Bank Holidays in Mumbai | Public Holidays in Mumbai Investigators revealed that the company operated a classic Ponzi-style scheme, enticing investors through agents, false receipts, and word-of-mouth marketing. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Perdagangkan CFD Emas dengan Broker Tepercaya IC Markets Mendaftar Undo Many were shown fake documentation and given verbal guarantees of regular returns. Preliminary analysis of digital and financial records indicates transactions worth over Rs 49 crore, with victims reportedly handing over cash, cheques, and even gold ornaments, for which no official receipts were issued. Police said the accused reportedly threatened and assaulted several investors who demanded returns. Videos of such assaults, including the beating of victims Sunil Satam and Yogesh Lad, were recovered from the mobile phones of Ankit Jain and Omkar Singh. The evidence was retrieved from WhatsApp messages and has been preserved under official panchnamas. The probe has so far uncovered 30 bank accounts linked to the accused spread across 12 banks including HDFC, ICICI, Kotak Mahindra, Yes Bank, and Union Bank. Authorities are also tracking suspicious agent accounts used to funnel investor money. Computers seized from the Goregaon office and from Deepak Jain's private firm Deepak D. Jain and Associates contained detailed investor data and Tally records confirming the extent of the scam. The police have contacted NSDL, CDSL, CIBIL, Facebook, and the hosting services of company websites to freeze digital assets, insurance policies, and stock holdings linked to the accused. Statements from over 75 witnesses have been recorded, including elderly victims and women who allege intimidation and abuse. Police say the accused continue to provide evasive answers and have not fully cooperated with investigators, making it difficult to determine the exact number of victims and the total financial damage, added the officer.
Entrepreneur
11-06-2025
- Business
- Entrepreneur
FlexiLoans Raises INR 375 Crore in Series C Round to Boost MSME Lending
he round was led by existing investors including Fundamentum, Accion Digital Transformation Fund, Nuveen, and Maj Invest, while British International Investment (BII), the UK's development finance institution, joined as a new backer You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Digital lending platform FlexiLoans has raised INR 375 crore in fresh equity funding as part of its Series C round, according to a press release issued by the company. The latest tranche adds to the INR 290 crore raised in September 2024, taking the total capital infusion to INR 665 crore over the last six months. The round was led by existing investors including Fundamentum, Accion Digital Transformation Fund, Nuveen, and Maj Invest, while British International Investment (BII), the UK's development finance institution, joined as a new backer. The investment mix includes both primary capital to drive operational expansion and secondary transactions that provided liquidity to early investors. Founded in 2016 by Deepak Jain, Ritesh Jain, and Manish Lunia, FlexiLoans operates as a digital-first NBFC focused on serving India's underserved MSME sector. The firm said the fresh funds will be used to scale operations, broaden its suite of credit products, and strengthen its technology platform aimed at small businesses, particularly in non-metro areas. Less than 10 per cent of the estimated 60 million MSMEs have access to formal credit. FlexiLoans targets this credit gap, with 66 per cent of its loan book spread across Tier II and Tier III cities. "We are pleased to have secured an additional INR 375 crores from our existing investors and are proud to welcome BII to our cap table," said Deepak Jain, co-founder of FlexiLoans. "This round not only enabled us to return capital to our early investors, but also gives us the firepower to double down on our mission—empowering underserved MSMEs across India with fast, accessible financing to grow, scale, and thrive." FlexiLoans operates without physical branches, using a fully digital infrastructure to approve and disburse loans—often within 48 hours—by leveraging alternative data and digital partnerships. The firm has disbursed over INR 10,000 crore across more than 2,100 towns and cities. Its current assets under management (AUM) stands at INR 2,300 crore, with a compound annual growth rate (CAGR) of 83 per cent from FY22 to FY25. Srini Nagarajan, managing director and head of Asia at BII, said: "We are delighted to support FlexiLoans in their mission to empower MSMEs across India with its innovative digital-only model. Financial inclusion is a key part of our strategy, and this investment underscores our commitment to supporting underserved businesses and entrepreneurs." Unitus Capital acted as the exclusive advisor to the transaction.
Hans India
06-06-2025
- Hans India
Cyber-fraud gang busted by Delhi Police; two arrested, Armyman among victims
New Delhi : The Delhi Police has busted a cyber-fraud racket and arrested two men, including the mastermind, for allegedly duping an Indian Army soldier of more than Rs 82,000 near the New Delhi Railway Station, an official said on Thursday. Accused Sahil Verma (24) and Deepak Jain alias Naveen (33) used fake firms and multiple bank accounts to carry out cyber frauds and cheat unsuspecting victims, he added. 'The case came to light on May 18 when a complaint was received at the Daryaganj Police Station. The complainant, Abhishek, serving as an Agniveer in the Army and posted in Udhampur, reported that he was defrauded of Rs 82,496 near Metro Gate No. 4 at the New Delhi Railway Station,' Deputy Commissioner of Police (Central) Nidhin Valsan said. The accused allegedly told the victim that he was in desperate need of money and lured the latter under false pretenses. After deceitfully gaining access to the victim's mobile phone, the fraudster fled and used a UPI platform to transfer the funds, the officer said. A case under the relevant sections of the Bharatiya Nyaya Sanhita (BNS) was registered and investigation launched. Police said the probe involved the analysis of the footage collected from more than 50 CCTV cameras from the surrounding areas and extensive digital surveillance. The investigation revealed that fraudsters used fake firms, such as RS Trading Company and Shri Sham Garments, to route money through current accounts in various banks. On May 28, based on technical surveillance, Verma was arrested from a location near the Ajmal Khan Park in Karol Bagh. 'He confessed to his involvement and operating fraudulent bank accounts. Based on his disclosure, his associate, Deepak Jain, was arrested the following day from Rajasthan's Chittorgarh,' the DCP said. Police have also seized five mobile phones used in the commission of the fraud and several bank passbooks. Efforts are underway to apprehend the other associates of the accused, identified as Akash Tomar and Mohit Sharma, and recover the remaining cheated amount. Further investigation is in progress to determine the full extent of the fraud, according to the police.
