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Sequent Scientific announced that Patri Venkat Raghavendra Rao, chief financial officer and key managerial personnel of the company resigned on 16 October 2023, due to personal reasons, which require him to relocate out of Mumbai.
The incoming CFO has been identified and his appointment is being proposed to the audit committee & the board of directors. This will be considered at the meetings scheduled in early November 2023.
Sequent Scientific is a global pharmaceutical company specializing in Animal Health. With a strong international presence, the company operates in both API and formulation domains. Their focus lies in addressing unmet market needs for livestock, poultry, and companion animals.
The company reported net loss of Rs 34.85 crore in Q1 June 2023, higher than net loss of Rs 14.97 crore in Q1 June 2022. Net sales declined 2.38% YoY to Rs 333.21 crore in Q1 June 2023.
Shares of Sequent Scientific surged 6.41% to Rs 109.88 on 16 October 2023.
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