Suven Life hits lower circuit as Q1 net loss widens to Rs 28 cr

Consolidated net sales slipped 73.42% year on year (YoY) to Rs 1.01 crore in the quarter ended 30 June 2024.

Total expenses shed 1.43% to Rs 33.05 crore in June 2024 quarter as against Rs 33.53 crore posted in same quarter last year.

Employee benefits expense was 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 Operational expenses rose marginally on YoY basis to Rs 24.92 crore in first quarter of FY25 compared with Rs 24.79 crore recorded in Q1 FY24.

Suven Life Science is a biopharmaceutical company focused on discovering, developing, and commercializing novel pharmaceutical products, which are first in class or best in class CNS therapies using GPCR targets.