Suven Life Sciences has registered a rise of 16.21% in net profit to Rs 1.29 crore for the third quarter ended December 31, 2011. The company had posted a net profit of Rs 1.11 crore in the corresponding period of previous fiscal.
The company’s net income from sales and services rose to Rs 48.72 crore for the third quarter, compared to Rs 32.06 crore in the same period previous fiscal, up by 51.97%.
In addition, the company said that with effect from December 31, 2011, Suven Nishtaa Pharma has become a wholly-owned subsidiary of the company. Further, the company said its board at its meeting held on January 31, 2012 has given its consent for amalgamation of Suven Nishtaa Pharma with Suven Life Sciences subject to the approval of the scheme by the High Court of Andhra Pradesh.
