Drug firm Suven Lifesciences today said its net profit declined by 7.17 per cent to Rs 2.33 crore for the second quarter ended September 30, 2010, over the same period previous fiscal.
The company had a net profit of Rs 2.51 crore in the same period last fiscal, Suven Lifesciences said in a filing to the Bombay Stock Exchange (BSE).
The company's net income from sales and services rose to Rs 36.90 crore for the September quarter, compared to Rs 33.19 crore for the corresponding period last fiscal.
The company said it spent 21 per cent of its revenues on research and development in the second quarter.
For the six month period ended September 30, the company posted a net profit of Rs 5.77 crore, compared to Rs 4.70 crore during the same period last year.
The company's net income from sales and services rose to Rs 72.83 crore for six months ended September 30, from Rs 64.21 crore for the same period last fiscal.
Shares of Suven were trading at Rs 29.80 on the BSE in the late afternoon trade, down 0.50 per cent from its previous close.
