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HYDERABAD: Suven Life Sciences Ltd (SLSL) has suffered a significant fall in net profit despite a growth in turnover for the second quarter of current fiscal ended September 30.

The company has attributed this to significant increase in research and development expenses and allocations towards depreciation in lieu of amalgamation and delay in commercialisation of certain projects.

The company announced a net profit of Rs 1.04 crore on a turnover of Rs 15.44 crore during the quarter under review compared with a profit of Rs 2.51 crore on a turnover of Rs 13.23 crore in the corresponding quarter of the previous fiscal.

On the expanded equity base of Rs 5 crore (Rs 4.4 crore), the EPS for the quarter has come down to Rs 0.42 (Rs 5.72) for the quarter under review.

For the six months period of current fiscal, the company achieved a net profit of Rs 2.05 crore (Rs 4.87 crore) on a turnover of Rs 27.6 crore (Rs 28 crore), yielding an EPS of Rs 0.82 (Rs 11.08).

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