Suven Life Sciences Q1 net up 16.68 pc at Rs 34.74 cr

Suven Life Sciences today reported a 16.68 per cent increase in its net profit at Rs 34.74 crore for the first quarter ended June 30, 2014.

The company had posted a net profit of Rs 29.77 crore in the corresponding quarter last fiscal, Suven Life Sciences said in a filing to BSE.

Net sales during the period under review stood at Rs 141.53 crore as against Rs 108.67 crore, up 30.23 per cent.

During the quarter, revenue from contract research and manufacturing services (CRAMS) stood at Rs 138.95 crore as compared to Rs 106.89 crore in the year-ago period.

On the other hand, income from drug discovery, development and support services stood at Rs 2.58 crore as against Rs 1.78 crore in Q1 last fiscal, the company said.

Suven's major thrust on innovative R&D in drug discovery continues with a spending of Rs 8.9 crore, which is 6.28 per cent of revenue for the quarter ended June 30, 2014, it added.

Shares of Suven Life Sciences were trading at Rs 123.15 per scrip in the morning trade, down 0.28 per cent from the previous close on BSE.

EDITORIAL OF THE DAY

  • Allow 100 per cent FDI in asset reconstruction companies

    The asset reconstruction business is 13 years old and still struggling like a toddler.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Arun Nigavekar

Moocs will not replace traditional education

I am revisiting the topic of massive open online course ...

Rajgopal Nidamboor

From complexity to prudent adaptability

It is a travesty that a host of new, strikingly ...

Dharmendra Khandal

Creepy, you say? That’s merely ophidiphobia

Snakes are the earliest predators in the life of the ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture