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HYDERABAD, INDIA (14 May’ 2013) – SUVEN LIFE Sciences Limited, a biopharmaceutical company specializing in drug discovery and developmental activities in Central Nervous System disorders, today announced its audited financial results for the quarter and year ended 31st Mar 2013. The audited financial results were reviewed by the audit committee and approved by the Board of Directors in their meeting held on 14th May 2013 at Hyderabad.
Financial Highlights for the 4th Quarter ended Mar’ 2013:
Growth in revenue Rs 747 Mn vs.Rs 629 Mn - Up by 23%
Growth in PAT Rs 86 Mn vs. Rs 71 Mn - Up by 21%
Growth in EBIDTA Rs 141 Mn vs. Rs 135 Mn - Up by 4%
Financial Highlights for the year ended Mar’ 2013:
Growth in revenue Rs 2579 Mn vs.Rs 2042 Mn - Up by 26%
Growth in PAT Rs 308 Mn vs. Rs 144 Mn - Up by 115%
Growth in EBIDTA Rs 542 Mn vs. Rs 250 Mn - Up by 117%
Suven’s major thrust on innovative R&D in Drug Discovery continues with a spending of Rs 347 Mn (13.4% on revenue) for the year ended Mar’ 2013.
The Board has recommended a Dividend of Re 0.30 per share (30% of face value of Rs.1.00 each) for the accounting year 2012-13 subject to the approval in AGM.
For more information on Suven please visit our Web site at http://www.suven.com
Except for historical information, all of the statements, expectations and assumptions, including expectations and assumptions, contained in this news release may be forward-looking statements that involve a number of risks and uncertainties. Although Suven attempts to be accurate in making these forward-looking statements, it is possible that future circumstances might differ from the assumptions on which such statements are based. Other important factors which could cause results to differ materially including outsourcing trends, economic conditions, dependence on collaborative partnership programs, retention of key personnel, technological advances and continued success in growth of sales that may make our products/services offerings less competitive;
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