Mumbai-headquartered Lupin, the fifth largest generics player in the US, on Tuesday reported a

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5 per cent year-on-year rise in net profits at Rs 235.1 crore on the back of 22 per cent rise in net sales at Rs 1,791.7 crore in the third quarter ended December 31, 2011.

Shares of the company rose nearly 2 per cent on Tuesday as the topline number came in higher than average analysts' estimate of Rs 1,748 crore. Kamal K Sharma, managing director, Lupin, said “We had a good quarter aided by strong operating performance, new launches and strong growth across US, India and Japan.”

The company's operating margins improved to 20.5 per cent in October-December 2011 quarter as compared to 19.7 per cent in the corresponding period last financial year.

Operationally, advanced markets formulation sales (including US, Europe & Japan) increased by 25.6 per cent to Rs 930 crore, up from Rs 740.4 crore . The advanced markets contributed 52 per cent of the net sales. Net sales for Lupin’s Indian business grew faster by 29.8 per cent to Rs 519.8 crore as compared to Rs 400.5 crore in the corresponding quarter in the last financial year.

Lupin's revenue expenditure on R&D amounted to Rs 141 crore - 7.9 per cent to net sales during October-December 2011 quarter. The amount spent in October-December 2010 was Rs 117.8 crore. The company said it spent Rs 145 crore as capital expenditure during the recent quarter.

The company's provision for taxes (including deferred taxes) were higher at Rs 70 crore as against Rs 23.7 crore during the October-December 2010 quarter.