Suven Life Sciences Ltd’s net profit more than doubled at Rs 30 crore in the first quarter ended June 30 compared with Rs 7.90 crore in the year-ago period.

As per the unaudited results of the company announced here on Tuesday, the Hyderabad-based company’s increased to Rs 111.8 crore (Rs 71 crore).

The growth in profit was a result of the commercialisation of two products under contract research and manufacturing services besides increase in sales of two regular products.

A dividend of 30 paise per share (30 per cent of face value of Rs 1 each) for the accounting year 2012-13 was approved in the annual general meeting, it added.

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