Suven net down 53%

Hyderabad-based life sciences and contract research and manufacturing services company Suven Life Sciences reported a 53.43% decline in net profit at Rs 1.16 crore for the quarter ended September 2007 when compared with Rs 2.49 crore in the corresponding quarter last year.

The company registered a 7% growth in revenue for the quarter under review at Rs 29.90 crore from Rs 27.97 crore in the corresponding last quarter.

While rupee appreciation against the dollar was one of the factors that impacted profit, the main reason was the change in product mix with regard to contract research projects, company officials said.