Neuland Q2 profit increases 11.68% to Rs 3.44 cr

NEW DELHI: Drug firm Neuland Laboratories today reported a 11.68 per cent increase in net profit to Rs 3.44 crore for the second quarter ended September 30.

The company had posted a net profit of Rs 3.08 crore in the same period of previous fiscal.

However, the company's total net sales decreased to Rs 104.28 crore in the July-September quarter as compared to Rs 117.82 crore during the same period a year ago, owing to fall in domestic sales.

For the first half of 2013-14, Neuland Laboratories profit increased to Rs 11.25 crore as against Rs 6.16 crore in the year-ago period.

The company's total net sales in H1 period (April-September) increased to Rs 225.60 crore as against Rs 244.42 crore in the same period last year.

Shares of the company closed at Rs 239.60 per scrip on BSE, down 9.96 per cent from the previous close.