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Suven Life Sciences' net profit more than doubled at Rs 3.5 crore in the fourth quarter ended March 31 compared with Rs 1.58 crore in the year-ago period. The total revenue of the Hyderabad-based company increased 27.6 per cent at Rs 46.5 crore (Rs 36.4 crore). For the full-year ended March 31, Suven posted a net profit of Rs 10.4 crore, an increase of 48.5 per cent over the year-ago period. The total revenue had increased 16.8 per cent at Rs 152 crore (Rs 129 crore). “Suven's major thrust on innovative R&D in drug discovery continues with a spending of Rs 31 crore (20.5 per cent of revenue) for the year ended March, 2011,” the company said in a release on Monday.
The board has recommended a dividend of Rs 0.25/share of face value of Re 1 each (25 per cent) for the financial year ended March 31. It would be paid on and from August 28, subject to the necessary approvals. The Suven Life stock ended 1.81 per cent down at Rs 21.70 on the BSE.
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