Hyderabad: Hyderabad-based Suven Pharmaceuticals reported a 31 percent increase in its net profit at Rs 97 crore for the second quarter ended 30 September 2021 compared to Rs 74 crore in the July-September period of the previous fiscal period.
The company’s operating income increased to Rs 301 crore for the quarter under review, compared to Rs 237 crore in the corresponding period of the previous fiscal year.
Suven said in a statement: “The Covid-19 continues to influence the business and research activities in India and our wholly owned subsidiary, Suven Pharma Inc USA. ”
The shortage or non-availability of vessels leading to delays in shipments, increase in transportation and distribution costs and timely non-availability of materials with increase in material costs, affects the company’s operations and profitability, the company added.
The company is mainly engaged in the contract development and manufacturing operations (CDMO) space.
Source: Telangana Today