Ind Swift Lab Q3 net up 83% to Rs 24 cr

Ind Swift Laboratories today said its net profit rose by 82.97 per cent to Rs 24.61 crore for the third quarter ended December 31, 2010, over the same period previous fiscal.

The company had a net profit of Rs 13.45 crore in the same period previous fiscal, Ind Swift Laboratories said in a statement.

The company's turnover also rose by 42.9 per cent to Rs 310.11 crore for the third quarter ended December 31, compared to Rs 216.90 crore in the same period last fiscal.

"The company's focus on high end export markets and on block buster molecule is yielding results as company is giving sustained revenues," Ind Swift Laboratories Vice-Chairman cum Managing Director N R Munjal said.

"Going forward company is looking at quantum leap jump in its efforts to tap regulated markets which will improve the quality of our business and deliver strong numbers on a consistent basis," Munjal added.

The company's exports during the quarter rose by 37.87 per cent to Rs 120 crore, compared to Rs 87.03 crore in the same period previous fiscal.

Shares of Ind Swift Laboratories were today trading at Rs 98 on Bombay Stock Exchange in the late afternoon trade, up 4.76 from its previous close.