Drug firm Nectar Lifesciences today posted an increase of 7.18 per cent in net profit to Rs 32.38 crore for the third quarter ended December 31.

The company had posted a net profit of Rs 30.21 crore for the October-December quarter of 2010.

Net sales of the company stood at Rs 409.92 crore during the quarter against Rs 320.43 crore for the same period last fiscal, Nectar Lifesciences said in a filing to BSE.

Shares of Nectar Lifesciences today closed at Rs 25.05 on BSE, up steep 9.15 per cent from the previous close.