Pharmaceutical company Suven Pharma on May 25 announced its fourth quarter financial results. The company reported a profit of over 35 percent to Rs 124 crore as compared to Rs 91.7 crore in the Same quarter last year.
However, Suven Pharmaceutical’s revenue remained flattish as it only increased by about a percent to Rs 369 crore in the January to March 2023 period against Rs 364 crore in the same quarter last year. Its operating profit or earnings before interest, taxes, depreciation and ammortisation (EBITDA) rose seven percent to Rs 168 crore against Rs 157 crore in the same quarter last year.
The Hyderabad-headquartered company reported margin at 46 percent in Q4, the highest compared to the other three quarters of FY23. Its margin was 41.4 percent in Q3 FY23, 40.5 percent in Q2 FY23 and 44.5 percent in Q1 FY23.
#4QWithCNBCTV18 | Suven Pharma reports Q4 earnings.
◼️Net profit up 35.2% at Rs 124 cr Vs Rs 91.7 cr (YoY)◼️Revenue up 1.4% Rs 369 cr Vs Rs 364 cr (YoY)◼️EBITDA up 7% at Rs 168 cr Vs Rs 157 cr (YoY)◼️Margin at 46% Vs 43% (YoY) pic.twitter.com/Jvygs1zmje— CNBC-TV18 (@CNBCTV18Live) May 25, 2023
Last month, the Competition Commission Of India (CCI) approved acquisition of up to 76.10 percent of voting share capital of Suven Pharmaceuticals by Berhyanda.
In February, Venkat Jasti of Suven Pharma had told CNBC-TV18 that FY23 would witness five percent lower turnover and flattish growth. However, he added that margin outlook will be similar to the one in the first nine months of FY23.
Suven Pharmaceuticals shares were trading at Rs 475.15 per share, up nearly 0.90 percent, at 2:18 pm.
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