Suven Pharma firms up after Q3 PAT jumps 41% YoY to Rs 160 cr

Suven Pharmaceuticals rose 1.94% to Rs 569.35 after the company's consolidated net profit rose 40.87% to Rs 160.06 crore on 42.43% rise in net sales to Rs 391.58 crore in Q3 December 2021 over Q3 December 2020.

Profit before tax rose 62.35% to Rs 239.45 crore in Q3 December 2021 as against Rs 147.49 crore in Q3 December 2020.

Total expenses jumped 46.23% to Rs 216.81 crore with cost of materials consumed soaring 48.55% to Rs 118.47 crore during the period under review.

The board has declared an interim dividend of Re 1 per equity share and one-time special dividend of Rs 2 per equity share for the financial year 2021-22. Record date is on 16 February 2022.

The board in its meeting held on 8th February 2022, has given its in-principle approval to evaluate the acquisition opportunity of Caper Pharma, an SEZ unit in Hyderabad engaged in formulations. The company will evaluate the proposal subject to financial, tax and legal due diligence to finalize the definitive agreements.

Suven Pharmaceuticals is in the business of Contract Development & Manufacturing Organisation (CDMO), catering to the needs of global pharma industry.

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