Shares of Suven Life Sciences fell nearly 4% after the company reported a net loss for the quarter ended March 2024.
Suven Life Sciences posted a net loss of ₹26.54 crore in the March 2024 quarter. This compares to a net loss of ₹27.64 crore in the same quarter the previous year.
The company’s sales decreased by 8.43% to ₹2.39 crore in the March 2024 quarter, down from ₹2.61 crore in the corresponding period in 2023.
For the full financial year 2023-24, Suven Life Sciences reported a net loss of ₹105.08 crore, compared to a net loss of ₹118.27 crore in the previous year.
Annual sales declined by 13.66% to ₹11.69 crore in 2023-24, down from ₹13.54 crore in 2022-23.
As of 10:35 am, shares of Suven Life Sciences were trading 3.62% lower at ₹107.75 on the National Stock Exchange (NSE).
