Tue, 10 Dec 2019

Hyderabad (Telangana) [India], Nov 14 (ANI): Suven Life Sciences on Thursday reported 26.5 per cent quarter-on-quarter jump in its profit after tax at Rs 72 crore during the July to September period.

In the April to June quarter, it had clocked profit of Rs 57 crore. The company reported revenue of Rs 280 crore in Q2 FY20, up 38.6 per cent from Rs 202 crore in Q1 FY20.

Growth in earnings before interest, tax, depreciation and amortisation (EBITDA) levelled at Rs 116 crore in the first quarter of current fiscal, 25 per cent higher from Rs 93 crore in the first quarter.

During the period, Suven secures 13 product patents covering Australia, Canada, Europe, Eurasia, India, Japan, South Korea, South Africa, Sri Lanka and the United States.

For the first half (April to September), revenue grew by 63 per cent to Rs 482 crore while profit after tax was up by 128 per cent at Rs 129 crore. EBITDA increased by 115 per cent to Rs 209 crore.

"Suven's major thrust on innovative RD in drug discovery continues with a spending of Rs 27.8 crore (5.76 per cent on income) for the half year ended September," it said in a statement.

The pharma major provides contract research and manufacturing services to global life sciences companies. It plans to invest 75 million dollars (about Rs 520 crore) in the new business.

(ANI)

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