Lupin Q3 net profit at Rs.560.30 million, to setup subsidiary in Netherlands

Lupin Ltd has announced the following Unaudited results for the quarter ended December 31, 2006:

The Company has posted a net profit of Rs 560.30 million for the quarter ended December 31, 2006 as compared to Rs 441.90 million for the quarter ended December 31, 2005. Total Income (net of excise) has increased from Rs 4365.10 million for the quarter ended December 31, 2005 to Rs 5112.00 million for the quarter ended December 31, 2006.

The Consolidated Results are as follows:

The Group has posted a net profit after minority interest of Rs 620.20 million for the quarter ended December 31, 2006. Total Income (net of excise) is Rs 5153.20 million for the quarter ended December 31, 2006.

Lupin Ltd has announced that the Board of Directors of the Company has approved the formation of a 100% subsidiary Company in Netherlands by making an initial investment of upto Euro 20,000. The said subsidiary would act as a special purpose vehicle for routing overseas investments to be made by the Company.

Source : Equity Bulls

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