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Global private equity major Advent International firm Suven Pharmaceuticals reported consolidated net profit in December quarter rose more than 78% to ₹83.29 crore from ₹46.75 crore a year earlier.
Sequentially, it was a tad better. The contract development and manufacturing organization (CDMO) had posted ₹81.98 crore net profit in the September quarter. The higher net profit in the third quarter came on a nearly 38% increase in total income to ₹322.86 crore (₹234.16 crore).
The company said on a proforma merged basis, along with Cohance, which is also an Advent entity, the revenue increased 40% year on year to Rs.676 crore. Gross margins for the quarter stood at 71.5% and adjusted EBITDA margins stood at 38.7%.
“Suven Pharma has reaffirmed its growth trajectory in Q3 FY25… we gear to deliver our $1 billion revenue guidance with higher CDMO and niche technology share. We continue to make business development efforts and remain focused on high-value CDMO offerings and expansion in niche technology platforms in line with our strategic vision,” Executive Chairman Vivek Sharma said.
There is a strong momentum in our “pharma CDMO business, with increased RFQ inflows and a robust late-stage pipeline. Phase 3 pipeline has expanded now to 15 projects with 9 molecules…” Managing Director V. Prasada Raju said.
Published – February 12, 2025 11:22 pm IST
