Mumbai, May 13 (IANS) Homegrown biopharma major Suven Life Sciences on Tuesday reported over 65 per cent increase in its net loss for the fourth quarter (Q4) of FY25, as a significant drop in revenue weighed heavily on its financial performance.
The company posted a consolidated net loss of Rs 43.9 crore in Q4, compared to a loss of Rs 26.5 crore in the same quarter last fiscal (Q4 FY24) — reflecting a steep year-on-year (YoY) increase of nearly 65.66 per cent, according to its stock exchange filing.
This widening of losses came on the back of a sharp 38.7 per cent fall in revenue, which declined to Rs 1.5 crore in Q4 from Rs 2.4 crore a year ago.
The company also reported a wider EBITDA loss of Rs 43.8 crore for the quarter, compared to Rs 30.3 crore in Q4 of the previous fiscal.
Adding to the pressure, the total expenses rose to Rs 46.6 crore during the quarter, marking a 36.26 per cent increase from Rs 34.2 crore in the same period last financial year.
A major part of this rise came from higher employee benefits expenses, which stood at Rs 6.06 crore, up from Rs 3.46 crore last year.
In a strategic move, the company also announced that it will issue 6.4 crore fully convertible warrants on a preferential basis. These warrants are worth Rs 858 crore, as per the company’s regulatory filing.
Suven Life Sciences is a biopharmaceutical firm focused on discovering and developing new chemical entities for treating central nervous system (CNS) disorders.
The company also partners with other pharmaceutical and biotech firms to provide drug discovery and development support services.
Despite the weak financials, Suven Life Sciences’ stock traded higher on the National Stock Exchange (NSE). Around 1:55 p.m., the company’s shares were up by Rs 10.93 or 7.14 per cent, trading at Rs 164.
On the Bombay Stock Exchange (BSE), the shares were trading at Rs 162.40, up by Rs 9.60 or 6.28 per cent.
–IANS
pk/na
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by BhaskarLive.in and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of BhaskarLive.in We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, BhaskarLive.in takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
