HYDERABAD, INDIA (10 Feb 2015) – SUVEN LIFE Sciences Limited, a biopharmaceutical company specializing in drug discovery and developmental activities in Central Nervous System disorders, today announced its Un-audited financial results for the quarter ended 31st Dec 2014.The un-audited financial results were reviewed by the audit committee and approved by the Board of Directors in their meeting held on Feb 10th 2015 at Hyderabad.
Financial Highlights for the 3rd Quarter ended Dec’ 2014:
Growth in revenue Rs 1311 Mn vs Rs 1203 Mn - up by 9 %
Growth in PAT Rs 322 Mn vs. Rs 364 Mn - down by 11.55%
Growth in EBIDTA Rs 506 Mn vs. Rs 557 Mn - down by 9.22%
Financial Highlights for the 9 Months ended Dec’ 2014:
Growth in revenue Rs 4150 Mn vs Rs 384 Mn - up by 8.17%
Growth in PAT Rs 918 Mn vs. Rs 1117 Mn - down by 17.85%
Growth in EBIDTA Rs 1494 Mn vs. Rs 1734 Mn - down by 13.88%
PAT for the current quarter was reduced by Rs. 23.66 Mn & for the 3rd Qtr ended 31st Dec’2014 reduced by Rs.96.46 Mn due to charge of additional depreciation computed as per Schedule II of the Companies Act 2013 effective April 1, 2014, shown as exceptional item in Profit & Loss Account. If the similar provisions of same quarter of previous years followed the PAT for this quarter would have been higher by Rs. 23.66 Mn to Rs 345.9 million and PAT for the 3rd Qtr ended 31st Dec’2014 would have been higher by Rs.96.46 million to Rs 1014.47 million
Suven’s major thrust on innovative R&D in Drug Discovery continues with a spending of Rs 406 Mn (9.78% on revenue) for the3rd Qtr ended 31st Dec’2014
For more information on Suven please visit our Web site at http://www.suven.com
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