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Hyderabad Jan. 29 Suven Life Sciences Ltd has reported a growth of 19 per cent for the quarter ended December 31, 2006 in both profit and revenue compared to the corresponding quarter of the previous year.

While the sales stood at Rs 32.25 crore (Rs 27.11 crore), the net profit was Rs 3.83 crore (Rs 3.21 crore).

The Board of Directors at its meeting held today, has recommended the issue of bonus shares at 1:1 ratio and also considered splitting of the Rs 2 per share to Re 1 per share, subject to necessary approvals.

For the nine-month period, the company posted revenues of Rs 85.85 crore, surpassing total revenues of the previous year at Rs 83.01 crore. The net also grew by 35 per cent, up from Rs 7.24 crore to Rs 8.75 crore.

Suven Life Sciences has completed the merger process with Asian Clinical Trials Ltd. During the nine-month period, the research and development costs stood at Rs 14.43 crore, translating into 17 per cent of the total revenues.

The company is into drug discovery for global pharma major and is focused on contract research and manufacturing services and drug discovery development support services.

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