Drug firm Venus Remedies today said its net profit rose by 19.12 per cent to Rs 13.02 crore for the quarter ended December 31, 2010 from the same period last fiscal.
The company had posted a net profit of Rs 10.93 crore in the corresponding period last fiscal, Venus Remedies said in a filing to the Bombay Stock Exchange (BSE).
Total income of the company for the third quarter rose to Rs 93.02 crore as against Rs 77.66 crore in the same period year ago.
The company in its filing to the BSE mentioned that these are provisional financial results of the company.
The third quarter saw securing of many patents by the company from the patent authorities of many countries including Australia and Ukraine, Venus Remedies said.
The Phase-III clinical trials of new Aminglycoside molecule, Etimicin Sulphate was also successfully completed, it added.
Shares of Venus Remedies were trading at Rs 239.05 in the afternoon trade on BSE, down 2.43 per cent from its previous close.