Suven Life hits lower low, Q1 net loss widens to Rs 28 cr

Last updated: August 5, 2024 | 14:16 IST

Suven Life Sciences closed with a profit lower bound of 5% at Rs 135.25 crore after its consolidated net loss stood at Rs 28.04 crore in Q1FY25, compared with a net loss of Rs 24.09 crore in Q1FY24.

Consolidated net sales declined by 73.42% year-on-year (YoY) to Rs 1.01 crore for the quarter ended June 30, 2024.

Total expenses declined by 1.43 per cent to Rs 33.05 crore in the June quarter of FY24 as compared to Rs 33.53 crore recorded in the same quarter last year.

Employee benefit expenses stood at Rs 4.69 crore (down 11.17% YoY) while finance costs stood at Rs 0.02 crore (down 60% YoY) during the period under review.

R&D and operating expenses increased marginally on a year-on-year basis to Rs 24.92 crore in Q1 FY25 as against Rs 24.79 crore recorded in Q1 FY24.

Suven Life Science is a biopharmaceutical company focused on discovering, developing and commercializing novel pharmaceutical products that are first or best-in-class GPCR therapies for the central nervous system.

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First published: August 5, 2024 | 14:00 IST