Suven Life Sciences has soared nearly 12% at Rs 74.55 on reporting seven-fold jump in standalone net profit at Rs 45.55 crore for the second quarter ended September 30, 2013 (Q2) on back of higher revenues. The pharmaceutical company had profit of Rs 6.5 crore in a year ago quarter.
The company said the growth in profit was result of one new product, in addition to 2 products already commercialized during first quarter, totaling 3 products under contract research and manufacturing services (CRAMS).
Net sales grew 202% year-on-year (yoy) at Rs 152 crore during the quarter under review. The company’s EBIDTA or operation profit surged 550% at Rs 71.50 crore on yoy basis.
The stock opened at Rs 66.90 and touched a 52-week high of Rs 78 on the NSE. The counter have seen huge trading volumes with a combined 10.2 million shares changing hands till 1450 hours against an average sub 2 million shares that were traded daily in past two weeks on NSE and BSE.
The company said the growth in profit was result of one new product, in addition to 2 products already commercialized during first quarter, totaling 3 products under contract research and manufacturing services (CRAMS).
Net sales grew 202% year-on-year (yoy) at Rs 152 crore during the quarter under review. The company’s EBIDTA or operation profit surged 550% at Rs 71.50 crore on yoy basis.
The stock opened at Rs 66.90 and touched a 52-week high of Rs 78 on the NSE. The counter have seen huge trading volumes with a combined 10.2 million shares changing hands till 1450 hours against an average sub 2 million shares that were traded daily in past two weeks on NSE and BSE.
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