Suven Life net dips 58.56%

Q2 SCORECARD

Suven Life Sciences Limited's net profit for the second quarter ended September 30, 2004 has decreased 58.56 per cent to Rs 1.04 crore, as compared to Rs 2.51 crore in the corresponding quarter last fiscal. The total income of the company, however, increased 16.7 per cent to Rs 15.44 crore (Rs 13.23 crore).

The profit before tax of the company decreased 30.61 per cent to Rs 2.38 crore (Rs 3.43 crore). For the first half of the current fiscal, the net profit of the company decreased 58 per cent to Rs 2.05 crore (compared to Rs 4.87 crore). The total income during the period decreased marginally to Rs 27.6 crore (Rs 28 crore).

The notable feature for the quarter is the investment of the company on research and development "� around 14 per cent of its total income at Rs 2.22 crore (Rs 1.32 crore).

The other reasons for the decline in profit was a result of delay in commercialisation of projects in phase three under the contract research and manufacturing services (Crams) model, the increase in the depreciation due to amalgamation of Suven Synthesis and also because of the merged assets are still being under validation for regulatory submissions, which are yet to contribute to the income of the company.

Natco Pharma net up 10%
Natco Pharma has reported a 10 per cent increase in net profit for the second quarter ended September 30, 2004. Net profit for the quarter was Rs 6.61 crore as against Rs 6.02 crore for the same period last year.

The revenues for the quarter stood at Rs 46 crore as against Rs 38 crore for the same period last year, representing a 21 per cent increase.

For the first half of the financial year, the company's revenues have touched Rs 89 crore while net profit for the first six months was Rs 11.56 crore. Earnings per share for the first half was R 4.63 on the pre-enhanced capital.