SUVEN LIFE Sciences Limited, a biopharmaceutical company specializing in drug discovery and developmental activities in Central Nervous System disorders, and Contract Research and Manufacturing Services (CRAMS) company which is celebrating it’s silver jubilee year of operations today announced its audited financial results for the year ended 31st Mar 2014. The audited financial results were reviewed by the audit committee and approved by the Board of Directors in their meeting held on 22nd May 2014 at Hyderabad. .
Financial Highlights for the 4th Quarter ended Mar’ 2014:
Growth in revenue Rs 1320 Mn vs.Rs 752 Mn - Up by 75%
Growth in PAT Rs 324 Mn vs. Rs 86 Mn - Up by 275%
Growth in EBIDTA Rs 486 Mn vs. Rs 141 Mn - Up by 244%
Financial Highlights for the year ended Mar’ 2014:
Growth in revenue Rs 5133 Mn vs.Rs 2589 Mn - Up by 98%
Growth in PAT Rs 1442 Mn vs. Rs 308 Mn - Up by 367%
Growth in EBIDTA Rs 2221 Mn vs. Rs 542 Mn - Up by 310%
The growth in profit during the year was due to the supply of pre-launch quantities of intermediates for 3 NCE’s under CRAMS.
Suven’s major thrust on innovative R&D in Drug Discovery continues with a spending of Rs 479 Mn (9.387% on revenue) for the year ended March 31,2014
The Board has proposed a Dividend of Re. 0.50 per share (50% of face value Rs. 1.00 each), with an additional Special Silver Jubilee year dividend of Rs. 2.00 per share (200% of face value of Rs. 1.00 each), aggregating to Rs 2.50 per share for the financial year 2013-14, subject to approval of the shareholders in the ensuing Annual General Meeting.
SUVN D-4010 and SUVN G-3031 are undergoing IND enabling toxicological studies in USA in preparation for Phase 1 clinical trial. SUVN-502 undergoing phase 1b clinical trial in USA in preparation for Phase 2a (POC) study on patients in USA
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