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Suven Life Sciences Ltd’s scrip lost 9.5 per cent on the Bombay Stock Exchange and was trading at Rs 191 shortly before the closure of the trading hours on Monday.
Suven’s net profit declined 45 per cent to Rs 2.5 crore in the second quarter ended September 30, 2014 compared with Rs 4.5 crore in the year-ago period.
Total revenue of the Hyderabad-based company also declined 6.8 per cent to Rs 141 crore from Rs 151 crore in the previous year.
The net profit was reduced due to an additional depreciation charge computed as per schedule II of the Companies Act effective April 1, 2014 and the absence of pre-launch supplies of intermediaries for three of the new chemical entities which were done last year, according to a release.
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