Suven Life Sciences Ltd’s net profit increased significantly to Rs 45 crore in the second quarter ended September 30, 2013, compared with Rs 6.48 crore in the corresponding quarter of the previous financial year.
The total revenue of the Hyderabad-based company increased to Rs 151 crore (Rs 50 crore) during the period under review.
The growth in profit and revenue was a result of one new product, in addition to two products already commercialised during the first quarter, the company said in a release issued on Monday. The earnings per shared increased to Rs 3.90 from Rs 0.56 in the year-ago period.
Suven has spent 9.8 per cent of its revenue on research and development during the half-year ended September 2013. It had 607 product patents for 18 inventions and 35 process patents.
Suven’s scrip gained 12.14 per cent and was trading at Rs 74.35 by noon on the Bombay Stock Exchange on Monday.
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