Lupin today reported a consolidated net profit of Rs 62.02 crore for the third quarter ended December 31, 2006. Total income stood at Rs 515.32 crore.The company, on a stand-alone basis, posted a net profit of Rs 56.03 crore in Q3FY07 when compared with Rs 44.19 crore in Q3FY06. Total income increased to Rs 511.20 crore from Rs 436.51 crore in Q3FY06.The board of directors, which met today, approved the formation of a 100% subsidiary company in Netherlands with an initial investment of up to euro 20,000. The subsidiary would act as a special purpose vehicle for routing overseas investments to be made by the company.
