Suven Vice-Chairman and Chief Executive Officer Venkat Jasti said the rupee appreciation influenced the deficit in revenues and profits. During the quarter, Suven obtained 17 patents including 2 US, 3 EU and 4 Indian among others.
For the year ended March 2008, net profit stood at Rs 8.26 crore, a 26.96 per cent drop from Rs 11.31 crore last year. Revenues increased by 7.44 per cent to Rs 123.04 crore (Rs 114.51 crore).
During the quarter ended March, the company entered into second collaborative research partnership programme with Lilly.
Under this, it will receive research funding as well as potential discovery and development milestone payments in the range of $19 million to $23 million per candidate and potential royalties on net sales of any products that may be successfully commercialised.
