Drug firm Strides Arcolab today said its net profit after tax (PAT) rose by 34.28% to Rs 47 crore for the third quarter ended September 30, 2011.
The company had posted a PAT of Rs 35 crore for the same period last financial year, Strides Arcolab said in a statement.
Its revenue stood at Rs 780 crore for the third quarter ended September 30, 2011, compared to Rs 430 crore in the same period last fiscal.
Commenting on the results, Strides Arcolab Vice Chairman and Group CEO Arun Kumar said: "With continued momentum of new product launches and approvals in our specialties business, I am confident of continued operating performance scale up in the coming quarters."
The company said it has revised its revenue guidance from Rs 2,200 crore to Rs 2,500 crore.
"Considering the strong year to date (YTD) performance, the company is confident of exceeding the higher end of guidance inspite of volatile currencies in our key markets and difficult macroeconomic conditions," the company said.
Shares of Strides Arcolab were trading at Rs 376.10 on the BSE, down 0.20% from its previous close.