Financial Daily from THE HINDU group of publications
Sunday, Aug 01, 2004
Financial Daily from THE HINDU group of publications Sunday, Aug 01, 2004 |
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Corporate Results
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Pharmaceuticals Suven Life net plunges in Q1
HYDERABAD: Suven Life Sciences Ltd (SLSL), the city-based pharmaceutical company, has suffered a fall both in turnover and net profit for the first quarter of the current fiscal ended June 30, 2004. As per the results taken on record by the Suven board, the company posted a net profit of Rs 1 crore on a turnover of Rs 12.16 crore during the quarter under review compared to a profit of Rs 2.31 crore on a turnover of Rs 14.77 crore in the corresponding quarter of previous fiscal. In a press release here, the company said it continued to invest for the future, and consequently the R&D expenditure and personnel and administrative expenses have increased during the quarter. The increase in these expense items for the quarter was Rs 1.05 crore. This was part of the reason for decline in net profit, the company said.
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