Suven Sciences posts 51% hike in PAT in Q1

Hyderabad, July 31 (UNI) Suven Life Sciences' Profit After Tax (PAT) went up by 51 per cent from Rs 2.08 crore to Rs 3.15 crore for the first quarter ended June this year.

The revenue of the company was increased by 13 per cent to Rs 28.98 crore for the quarter as compared to Rs 25.61 crore for the corresponding period last year, according to a release here today.

The export sales constituted 64 per cent of the total sales recorded during the quarter.

Suven's major thrust on innovative R and D in drug discovery continued with a total expenditure (revenue and capital) of Rs 9.44 crore and it contributed about 33 per cent of revenue in the quarter.

The Board of Directors had recommended a dividend of 25 per cent per annum on a face value of Re one per share for the financial year 2006-07, the release added.

UNI