Suven Pharmaceuticals' consolidated net profit slipped 0.9% to Rs 74.18 crore on 26.4% drop in net sales to Rs 184.76 crore in Q4 March 2020 over Q4 March 2019.
Consolidated profit before tax (PBT) fell 22.1% to Rs 89.38 crore in Q4 March 2020 as against Rs 114.73 crore in Q4 March 2019. Current tax expense slumped 44.6% to Rs 13.49 crore in Q4 March 2020 as against Rs 24.37 crore in Q4 March 2019. The Q4 result was announced after market hours yesterday, 17 June 2020.
Suven Pharmaceuticals is engaged in the pharmaceuticals & drugs sector. The company focuses on the business of contract development and manufacturing operations (CDMO). There was a fire accident on 26 April 2020 at one of the company's buildings having research facilities in Jeedimetla, Hyderabad in Telengana and the insurance claim under process.
Shares of Suven Pharmaceuticals rallied 10.67% to Rs 381.60 on BSE. The scrip hovered in the range of Rs 352.30 to Rs 385 so far.
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