Suven Life Sciences rose 0.58% to Rs 95.30 at 14:21 IST on BSE after net profit jumped 275% to Rs 32.40 crore on 75% growth in revenue to Rs 132 crore in Q4 March 2014 over Q4 March 2013.
The Q4 result was announced during market hours today, 22 May 2014.
Meanwhile, the S&P BSE Sensex was up 127.73 points or 0.53% at 24,425.75.
On BSE, so far 18.38 lakh shares were traded in the counter as against average daily volume of 2.09 lakh shares in the past one quarter.
The stock was volatile. The stock surged as much as 6.06% at the day's high of Rs 100.50 so far during the day, which is a record high for the counter. The stock lost as much as 7.33% at the day's low of Rs 87.80 so far during the day. The stock hit a 52-week low of Rs 22 on 13 June 2013.
The stock had outperformed the market over the past one month till 21 May 2014, surging 12.53% compared with the Sensex's 6.73% rise. The scrip had also outperformed the market in the past one quarter, jumping 31.41% as against the Sensex's 17.38% rise.
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The small-cap company has equity capital of Rs 11.68 crore. Face value per share is Re 1.
Suven Life Sciences (Suven)'s EBITDA surged 244% to Rs 48.60 crore in Q4 March 2014 over Q4 March 2013.
Suven's net profit jumped 367% to Rs 144.20 crore on 98% growth in revenue to Rs 513.30 crore in the year ended 31 March 2014 (FY 2014) over the year ended 31 March 2013 (FY 2013).
EBITDA surged 310% to Rs 222.10 crore in FY 2014 over FY 2013.
Suven said that the growth in profit during the year was due to the supply of pre-launch quantities of intermediates for 3 NCE's under CRAMS.
Suven's major thrust on innovation R&D in Drug Discovery continues with a spending of Rs 47.90 crore (9.387% on revenue) for FY 2014, the company said in a statement.
Suven Life Sciences is a biopharmaceutical company focused on discovering, developing and commercializing novel pharmaceutical products. The company has 12 internally-discovered therapeutic drug candidates currently in pre-clinical stage of development targeting conditions such as ADHD, dementia, depression, Huntington's disease, Parkinson's disease and obesity in addition to developmental candidate SUVN-502 for Alzheimer's disease and Schizophrenia.
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