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Suven Life Sciences FY14 net profit surges 4.68 times to Rs144.2 crore
For FY14, Suven Life Sciences reported 367% higher net profit of Rs144.2 crore due to 98% growth in its sales
 
Suven Life Sciences Ltd, a Hyderabad-based biopharmaceutical company,  posted 4.68 times higher net profit due to robust sales growth. 
 
For the 12 month to end-March, pharmaceutical company said its net profit increased 367% to Rs144.2 crore from Rs30.8 crore, its total revenues including sales grew 98% to Rs513.3 crore from Rs258.9 crore, a year ago period.
 
“The growth in profit during the year was due to the supply of pre-launch quantities of intermediates for 3 NCE’s under CRAMS. Suven’s major thrust on innovative R&D in Drug Discovery continues with a spending of Rs47.9 crore (9.3% on revenue) for the year ended 31 March 2014,” company said in its regulatory filing.
 
In its quarter to end-March Suven Life Sciences said its net profit jumps 275%  to Rs32.4 crore from Rs8.6 crore, its total revenues including sales grew 75% to Rs132 crore from Rs75.2 crore, a year ago period.
 
Suven Life Sciences reserves and surplus increased 77%  to  Rs252.76 crore from Rs142.77 crore, a year ago period. 
 
Suven Life Sciences on Thursday, made 52-week high at Rs100.50 on the BSE.
 
At 11.30am Monday, Suven Life Sciences was trading 2.04% down at Rs88.70 on BSE, while the S&P BSE Sensex was up 1.44% to 25,047.
 
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Divis Laboratories FY14 net profit up 28% on higher exports
For FY14, Divis Laboratories reported higher net profit to Rs773 crore on higher exports to North America and Europe
 
Divis Laboratories, an active pharmaceutical ingredients (APIs) and inetermediates manufacturer, posted higher full year net profit due to robust sales growth and exports.
 
For the 12 month to end-March, Divis Laboratories said its consolidated net profit increased 28% to Rs773 crore from Rs602 crore, its total revenues grew 18% to Rs2,532 crore from Rs2,145 crore a year ago period.
 
“Exports constituted 90% of sales and about 76% to advanced markets in North America and Europe,” said the company in its regulatory filing.
 
During FY14, Divis Laboratories has made foreign exchange (forex) gain of Rs37.12 crore from Rs11.45 crore a year ago period.
 
Divis Laboratories said, “It has capitalised fixed assets worth Rs409 crore. An amount of Rs144 crore is carried forward as Capital WIP for the capital works under execution.”
 
In its quarter to end-March Divis Laboratories said its consolidated net profit increased 8.29%  to Rs196 crore from Rs181 crore, its total sales grew 13.98% to Rs750 crore from Rs658 crore a year ago period.
 
During FY14, FIIs shareholding in the company grew to 18.20% from 14.01% a year ago. While domestic institutional investors (DIIs) shareholding fell to 12.08% from 13.31%, public shareholding fell to 17.64% from 20.53%. However, promoter shareholding reduced marginally to 52.08%.
 
Divis Laboratories declared final dividend of Rs20 per share.
 
At 12.57 pm Monday, Divis Laboratories was trading 4.10% down at Rs1,240 on the BSE, while the S&P BSE Sensex was 1.61% up at 25,089.
 
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City Union Bank FY14 net profit up 8% on higher NII
For FY14, City Union Bank reported net profit of Rs347 crore as its net interest income grew 22%
 
City Union Bank Ltd reported higher net profit in FY2013-14 mainly on increase in its net interest income (NII) and revenues. 
 
For the 12 month to end-March,  City Union Bank said its net profit increased 8% to Rs347 crore from Rs322 crore, while its total revenues, including interest income, grew 16% to Rs2,847 crore from Rs2,462 crore, a year ago period.
 
During FY14, the lender said NII increased 22% to Rs759 crore from Rs624 crore of FY13. Its non-interest income (other income) grew 10% to Rs301 crore from Rs273 crore in FY13. 
 
City union Bank in its FY14 made 39% higher provisions of Rs167 crore from Rs120 crore a year ago period. Its provision coverage ratio stood at 62%. 
As on 31 March 2014, City Union Bank's total advances increased 6% to Rs16,224 crore. Total deposits during the year increased 8% to Rs22,017 crore. Its current account saving account (CASA) deposit grew at 15% to Rs3,917 crore.
 
As on 31 March 2014, 's capital adequacy ratio (CAR) stood at 15.01%, gross non performing assets ratio (GNPAs) stood at 1.81% (Rs293 crore). Its net non-performing assets stood at 1.23% (Rs197 crore). 
 
For the quarter to end-March, City Union Bank said its net profit grew marginally 1% to Rs83.4 crore from Rs82.47 crore while its total revenues, including interest income, grew 7% to Rs726 crore from Rs678 crore, same period last year.
 
As on date, the City Union Bank's total number of branches and ATM network stood at  425 and 950 respectively.
 
City Union Bank has declared a final dividend of Re1 per share.
 
City Union Bank made 52-week high at Rs75.50 and closed 2.05% down on Monday at Rs71.70 on the BSE, while the 30-share Sensex ended the day flat at 24,716.
 
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