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Suven Life Sciences Limited, a Hyderabad-based bio pharmaceutical company, has reported a 47.7% decline in net profit at Rs 16.95 crore for the quarter ended March 2015 due to fall in revenues and profitability. The net profit for the same quarter last year was Rs 32.41 crore.
Total income for the quarter under review decreased 13.28% to Rs 114.47 crore from Rs 132 crore in the corresponding previous quarter.
Net profit for the full year ending March 2014 stood at Rs 108.8 crore, a decrease of 25% over Rs 144.2 crore last year. However revenues were up 3% at 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% of revenue) for the year ended March, 2015," the company said.
