Mumbai, Feb 3 (IANS): Pharmaceuticals-maker Lupin Tuesday said its consolidated net profit for the quarter ended Dec 31 increased by 26.32 percent to Rs.601.45 crore compared to Rs.476.13 crore for the like period in the previous fiscal.

"The company's continued focus on improving operational inefficiencies has led to sustained margins and profit growth notwithstanding regulatory delays that have resulted in pressures on the topline," said Lupin's managing director Nilesh Gupta in a statement.

"The performance for the three quarters taken as a whole is more representative of the growth enjoyed by the company," he said

Net sales of the company rose to Rs.3,144.91 crore for the third quarter of the current fiscal compared to Rs.2,982.97 crore in the corresponding time-frame last year.

The company's India formulations business grew 14 percent during the third quarter pegged at a net sales figure of Rs.743.8 crore compared to Rs.650.4 crore in the like period of the previous fiscal.

The company said its US and European formulations grew by four percent to Rs.1,484.8 crore during the third quarter as against Rs.1,422.8 crore in the like period of the previous fiscal, contributing 47 percent to overall sales.