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Wednesday, Jul 06, 2022
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Q2 Results: Suven Pharma Posts 31% Increase In Net Profit, Divi's Labs Net Profit Rises 17%

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.

Q2 Results: Suven Pharma Posts 31% Increase In Net Profit, Divi's Labs Net Profit Rises 17%
Q2 Results: Suven Pharma Posts 31% Increase In Net Profit, Divi's Labs Net Profit Rises 17%
outlookindia.com
2021-11-07T08:55:23+05:30

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 an 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.

Meanwhile, grug firm Divi's Laboratories on Saturday reported a 16.71 per cent jump in its consolidated net profit to Rs 606.46 crore for the quarter ended September 30, mainly on account of robust sales.

The company had posted a net profit of Rs 519.59 crore for the corresponding period of the previous fiscal, Divi's Laboratories said in a filing to the BSE.

Its consolidated total income during July-September 2021 stood at Rs 2,006.62 crore. It was Rs 1,762.94 crore in the year-ago period, it added.

The group has not experienced any significant impact on its operations, supply chain and recoverability of carrying amounts of financial and non-financial assets due to the COVID 19 pandemic, Divi's Labs said.

(With PTI Inputs)

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