Hyderabad-based biopharmaceutical company, Suven Life Sciences Limited, has reported a 47.7 per cent decline in net profit to Rs 16.95 crore for the quarter ended March 2015, due to the fall in revenues and profitability. The net profit for the same quarter last year was at Rs 32.41 crore.Total income for the quarter under review decreased 13.28 per cent to Rs 114.47 crore, from Rs 132 crore in the corresponding previous quarter.
Net profit for the full year ending March 2015 stood at Rs 108.8 crore, a decrease of 25 per cent over Rs 144.2 crore last year. However, revenues were up 3 per cent to Rs 529.4 crore, as compared with Rs 513.3 crore in the last fiscal. "Suven's major thrust on innovative R&D in drug discovery continues with a spending of Rs 56 crore (10.57 per cent of revenue) for the year ended March 2015," the company said.
Kaveri Seeds net dips 29% to Rs 1.25 cr
Agri sector-focused company Kaveri Seeds has witnessed a 29 per cent fall in net profit to Rs 1.25 crore for the quarter ended March 31, 2015, as against a net profit of Rs 1.76 crore for the same period last year. Total income during the quarter under review rose marginally to Rs 39.94 crore, when compared with Rs 39.20 crore for the same period last fiscal.
Tax expenses during the quarter shot up three-fold to Rs 3.67 crore, as against Rs 1.26 crore last year. The board of directors of the company has recommended a final dividend of Rs 2.50 per equity share of Rs 2 each of the company.
Shares of the company today lost 2.67 per cent to close at Rs 830.65, as against the previous day's closing price of Rs 853.40 on the BSE.
