Suven Life’s Q1 net profit at Rs26.2cr; stock trades flat

The company's consolidated net profit came in at Rs26.2cr for the first quarter ended June 30, 2019 vs. Rs26cr in the same period of the previous year.

Aug 14, 2019 08:08 IST India Infoline News Service

Suven Life Sciences
Suven Life Sciences Limited, a biopharmaceutical company specializing in drug discovery and developmental activities in Central Nervous System disorders and Contract Research and Manufacturing Services (CRAMS) today announced its unaudited financial results for the quarter ending June 30, 2019.

The company's consolidated net profit came in at Rs26.2cr for the first quarter ended June 30, 2019 vs. Rs26cr in the same period of the previous year.

The company's consolidated revenue stood at Rs198.98cr in Q1 as compared with Rs191.6cr in Q1FY19.

During the period Suven secured 10 product patents covering regions/countries – Europe, India, Israel, Japan, Macau, Mexico, New Zealand, Sri Lanka and the USA.

Suven Life Sciences submitted the application to National Company Law Tribunal (NCLT) for Demerger of Suven into two companies, focused on Discovery Research and CRAMS operations.

Suven Life Sciences Ltd is currently trading at Rs232, up by Rs0.5 or 0.22% from its previous closing of Rs231.50 on the BSE.

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