Suven Life Sciences Ltd’s net profit increased 17 per cent to Rs 35 crore in the first quarter ended June 30, 2014, compared with Rs 30 crore in the corresponding quarter last year.
The total revenue of the Hyderabad-based company grew 28 per cent to Rs 142 core (Rs 112 core), according to a release issued here on Tuesday.
Net profit during the quarter was reduced by Rs 4 crore due to a charge of additional depreciation computed as per Companies Act 2013. "Had the similar provisions of the same quarter of previous years would have been followed, the PAT for this quarter would have been higher to that extent,’’ the company said.
Suven Life spent 6.28 per cent of revenue on research and development during the quarter under review. Its scrip was trading at Rs 123, down 0.4 per cent, by noon on Tuesday.