Suven Pharmaceuticals reported 20.09% fall in net profit to Rs 109.46 crore on 11% decline in net sales to Rs 348.49 crore in Q3 FY23 over Q3 FY22.
Profit before tax shed by nearly 20% year on year to Rs 147.28 crore in the quarter ended 31 December 2022.EBITDA de-grew 18.29% to Rs 159.58 crore in the third quarter from Rs 195.30 crore reported in the same period last year. EBITDA margin slipped to 44.20% in Q3 FY23 as against 48.72% in Q3 FY22.
Total expenses rose marginally to Rs 213.71 crore while cost of materials consumed increased by 14.09% to Rs 135.16 crore during the period under review.
On consolidate basis, the pharma company's net profit slid 32.7% to Rs 107.72 crore on 9.66% decrease in net sales to Rs 353.77 crore in Q3 FY23 over Q3 FY22.
Suven Pharmaceuticals is in the business of Contract Development & Manufacturing Organisation (CDMO), catering to the needs of global pharma industry.
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