Suven Life Q3 Net down 11.55% at Rs 32.22 crore

Drug firm Suven Life Sciences Ltd today reported an 11.55 per cent decline in its net profit at Rs 32.22 crore for the quarter ended December 31, due to higher expenses.
The company had posted a net profit of Rs 36.43 crore in the same period of the previous fiscal, Suven Life Sciences said in a filing with the BSE.
Its net sales during the quarter under review were at Rs 128.82 crore, up 7.87 per cent as against Rs 119.42 crore in the year-ago period.
The overall expenses grew by 24.19 per cent at Rs 82.95 crore in the October-December quarter as compared to Rs 66.79 crore during the same period of 2013.

Meanwhile, in a separate filing, Suven Life said it has appointed P Subba Rao as the Chief Financial Officer (CFO) of the company.
The company's shares were trading at Rs 228 per scrip, down 2.12 per cent from previous close on the BSE.