Despite higher finance costs, Shasun Pharmaceuticals managed to pare losses during the quarter ended June 30 as its revenue increase was higher compared to the uptick in input costs. During the June quarter, net loss stood at ₹4.8 crore, a drop of 27 per cent, and net income increased 38 per cent to ₹313.7 crore. The company also raised ₹ 58 crore during the quarter by issuing shares and warrants to animal health products company Sequent Scientific Ltd. It had announced a joint venture with Sequent to manufacture veterinary drugs from its factory in Vishakhapatnam, Andhra Pradesh. Abhaya Kumar, Managing Director, had said the company aims to reach a turnover of ₹2,000 crore during the current fiscal.
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.