Innova Captab slides as CFO Gaurav Srivastava resigns

Innova Captab fell 2.91% to Rs 467.35 after the firm informed that its chief financial officer (CFO), Gaurav Srivastava has resigned from his position with effect from 29 March 2024 due to personal reasons.

Gaurav Srivastava ceases to be the key managerial personnel (KMP) of the company as on the same date. He further confirmed that there is no material reason other than the one mentioned above, stated the company.

Innova Captab is an integrated pharmaceutical company in India, with a presence across the pharmaceuticals value chain including research and development, manufacturing, drug distribution and marketing and exports. The company has three businesses: CDMO (contract development and manufacturing organization) services and products, domestic branded generics, and international branded generic.

The companys consolidated net profit increased 28.34% to Rs 25.13 crore on 24.99% rise in revenue from operations to Rs 302.49 crore in Q3 FY24 over Q3 FY23.

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