Q3 Results: Syngene Profit Plunges 88.5%, Suryoday SFB & Gujarat State Petronet Also Report

• Syngene, Suryoday SFB, and Gujarat State Petronet announced their Q3 results after market close on Thursday.
• Contract research firm Syngene reported an 88.5% year-on-year drop in net profit to ₹15 crore, with revenue down 2.8%.
• Suryoday Small Finance Bank's net profit increased by 9.6% to ₹36.5 crore, but its asset quality weakened with rising NPAs.
• Gujarat State Petronet saw a 1.5% quarter-on-quarter decline in net profit to ₹256.7 crore and a 2.7% revenue drop.
• The profit decline for Syngene was attributed to lower income and the impact of labor codes.

Why It Matters: Syngene's Q3 profit plummeted by 88.5%, while Suryoday SFB saw profit growth despite weakening asset quality.