Suven Income up by 35 per cent issues 1:1 bonus shares

Hyderabad, Jan 29,(UNI) The city-based Suven Life Science's Board of Directors meeting held here today announced that the revenue and profit after tax recorded a growth of 19 per cent for the quarter ended December 2006 compared to the corresponding quarter of the previous year.

The sales stood at Rs 3225 lac increased from Rs 2711 lac and the net profit after tax recorded at Rs 383 lac, increased from Rs 321 lacs. The exports sales also recorded a growth of 21 per cent. The Company also posted an impressive revenue of Rs 8585 lac for the nine months ended December 2006, surpassing the annual revenue recorded in the previous year of Rs 8301 (recording a growth of 35 per cent, compared to the corresponding previous period). The profit after tax (PAT) was also increased by 35 per cent from Rs 724 lac to Rs 876 lac.

The company's Research and Development cost for nine months period stood at Rs 1443 lac, constituting 17 per cent of the total revenue. During the quarter the company also completed the merger process with Asian Clinical Trials Limited.

The Board has recommended the issue of bonus shares at 1:1 ratio and also considered splitting of Rs two per share to Rs one per share.

UNI