Drug firm Lupin today posted an increase of 42.57 per cent in its consolidated net profit to Rs 335.2 crore for the third quarter ended December 31, 2012, on the back of strong sales in the US market.

The Mumbai-headquartered firm had posted a net profit of Rs 235.1 crore during the same period of previous fiscal.

Consolidated net sales of the company rose by 37.62 per cent to Rs 2,465.9 crore during the third quarter, as against Rs 1,791.7 crore during the same period of 2011-12 fiscal, Lupin Ltd said in a statement.

"We had a record quarter driven by strong operating performance and growth in the US. Importantly, we continue to improve on margins consistently," Lupin Ltd Managing Director Kamal K Sharma said.

Shares of Lupin were trading at Rs 608.15 apiece on the BSE in late afternoon trade, up 1.49 per cent from their previous close.