Suven Pharma Reports Negative Performance in Q2, MarketsMOJO Gives 'Hold' Call

Suven Pharmaceuticals, a largecap company in the pharma industry, recently announced its financial results for the quarter ending June 2024. According to the report, the company has seen a negative performance in this quarter, with a score of -19, which is an improvement from the previous quarter's score of -22.

One of the major factors contributing to this negative performance is the decline in Profit Before Tax (PBT) less Other Income. The PBT for this quarter was Rs 64.93 crore, which is a decrease of 24.4% compared to the average PBT of the previous four quarters, which was Rs 85.94 crore. This trend is expected to continue in the near term.

Another concerning aspect is the decline in Net Sales, which was Rs 230.69 crore for this quarter, a decrease of 12.2% compared to the average Net Sales of the previous four quarters, which was Rs 262.84 crore. This indicates a negative trend in sales in the near term.

The company's Profit After Tax (PAT) also saw a decline of 19.0% in this quarter, with a PAT of Rs 60.77 crore compared to the average PAT of the previous four quarters, which was Rs 75.07 crore. This is another indication of a negative trend in the near term.

Based on these financial results, MarketsMOJO has given a 'Hold' call for Suven Pharma's stock. It is important for investors to keep an eye on the company's performance in the coming quarters to make informed decisions.