Suven Q2 net dips 45%

Revenues for the quarter down 7.29% to Rs 141 cr

Suven Life Sciences Limited, a biopharmaceutical company, reported a net profit of Rs 24.8 crore for the second quarter ended September 2014, as against Rs 45.5 crore during the same period a year ago, reflecting a decline of 45.49 per cent. Revenues for the quarter dipped 7.29 per cent to Rs 141.2 crore, as compared with Rs 151.5 crore in the corresponding quarter last year.

Lower revenue and profit after tax growth during this quarter compared with the same quarter last year was due to the absence of pre-launch supplies of intermediates for three of the NCEs (new chemical entities), which were done last year. The repeat order for these supplies may happen after a gap of 12 to 18 months, the company said in a release.