Suven Pharma second quarter net profit up 31% at Rs 97 crore
Suven Pharmaceuticals on Saturday posted a 31 per cent increase in its consolidated net profit at Rs 97 crore for the second quarter ended September 30.
The company had reported a net profit of Rs 74 crore in the July-September period of the previous fiscal.
Revenue from operations rose to Rs 301 crore for the quarter under review, as against Rs 237 crore in the year-ago period, Suven Pharmaceuticals said in a regulatory filing.
The COVID-19 pandemic continues to impact the business and research operations in India and our wholly-owned subsidiary, Suven pharma Inc USA, it noted.
“Apart from the above, the shortage or non-availability of vessels leading to delay in shipments, increase in the transportation and distribution costs and timely non availability of materials with increase in materials cost are impacting our operations and profitability,” it added.
The Hyderabad-based company primarily operates in the contract development and manufacturing operations (CDMO) segment.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
