Suven Q2 net profit rises 5% at Rs 26.5 crore

Last year, in the same quarter, it reported a profit of Rs 25.24 crore

Hyderabad-based biopharmaceutical company Suven Life Sciences has reported a 5.23 per cent increase in net profit at Rs 26.56 crore in the quarter ended September 2016 as compared to Rs 25.24 crore in the same quarter a year ago.

Besides a marginal dip in revenues, an 88 per cent rise in the tax expenses at Rs 11.29 crore contained the profit growth during the review period.

Suven has seen 1.2 per cent decline in net sales at Rs 115.54 crore in the quarter under review from Rs 116.92 crore in the corresponding quarter last year.

During the June-September quarter, Suven secured nine product patents covering India, Japan, Hong Kong, Canada, Israel, Europe, China and Mexico.