Suven Pharma Q2 net profit up 31% at Rs 97 crore

Hyderabad: Hyderabad-based Suven Pharmaceuticals reported a 31 per cent jump in its net profit at Rs 97 crore for the second quarter ended September 30, 2021 against Rs 74 crore in the July-September period of the previous fiscal. The company’s revenue from operations rose to Rs 301 crore for the quarter under review, as against […]

Hyderabad: Hyderabad-based Suven Pharmaceuticals reported a 31 per cent jump in its net profit at Rs 97 crore for the second quarter ended September 30, 2021 against Rs 74 crore in the July-September period of the previous fiscal.

The company’s revenue from operations rose to Rs 301 crore for the quarter under review, as against Rs 237 crore in the corresponding period of the last fiscal.

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Suven said in a statement, “The Covid-19 continues to impact the business and research operations in India and our wholly-owned subsidiary, Suven Pharma Inc USA.”

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 the company’s operations and profitability, the company added.

The company primarily operates in the contract development and manufacturing operations (CDMO) space.

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