Suven Life Sciences was locked in lower circuit of 5% at Rs 135.25 after its consolidated net loss stood at Rs 28.04 crore in Q1 FY25 as compared with a net loss of Rs 24.09 crore in Q1 FY24.
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.
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