In a regulatory filing, Suven Pharmaceutical said that its board has approved the appointment of Himanshu Agarwal as the chief financial officer of the company with effect from 2 January 2024.

Accordingly, Parupalli will cease to be the CFO from the above mentioned date. He will support in the transition to Himanshu Agarwal and will be part of the finance team of the company.

Agarwal was a Group CFO at Bennett & Coleman Company and Global CFO at Huhtamaki, executive director & Group CFO at Akzo Nobel India, CFO at Astra Zeneca Pharma, BU Controller at Imperial Chemical Industries (ICI).

Suven Pharmaceuticals is in the business of Contract Development & Manufacturing Organisation (CDMO), catering to the needs of global pharma industry.

The company’s consolidated net profit rose 10.42% to Rs 79.56 crore in Q2 FY24 as compared with Rs 72.05 crore posted in Q2 FY23. Revenue from operations stood at Rs 231.05 crore in Q2 FY24, down 17% as compared with Rs 278.40 crore posted in Q2 FY23.

Shares of Suven Pharmaceuticals added 0.36% to end at Rs 674.35 on the BSE.