Suven Pharma posts net profit of Rs 74.18 crore in Q4

New Delhi: Drug firm Suven Pharmaceuticals on Thursday reported a consolidated net profit of Rs 74.18 crore for the quarter ended March 31, 2020.

The company had posted a net profit of Rs 74.82 crore in the corresponding period of the previous fiscal, Suven Pharma said in a filing to the BSE.

Consolidated total income of the company stood at Rs 190.10 crore during the quarter under review. It stood at Rs 251.33 crore in the same period a year ago, it added.

"Consequent to the demerger of contract research and manufacturing services (CRAMS) undertaking of the erstwhile Suven Life Sciences Ltd as a going concern into the company, pursuant to the scheme effective from the appointed date being October 1, 2018, the financial results for the year ended March 31, 2020, are not comparable to that extent with the previous corresponding period," Suven Pharma said.

For the fiscal year 2019-20, net profit stood at Rs 317 crore. It was at Rs 109.27 crore in 2018-19.

The company''s total income stood at Rs 851.90 crore for the fiscal year ended March 2020. It was at Rs 378.43 crore in the fiscal year 2018-19.

Shares of Suven Pharmaceuticals on Thursday closed 4.36 per cent higher at Rs 347.90 per scrip on the BSE.

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