Taro Pharmaceutical Industries, engaged in manufacturing and marketing prescription and OTC pharmaceutical products primarily in the United States, Canada and Israel, has registered net profit growth of 30.3 per cent during the third quarter ended December 2013 to $116 million from $89 million in the similar period of last year. Its net sales increased by 15.1 per cent to $214 million from $186 million. EPS improved to $2.59 from $1.98 in the last period. Its operating income increased by 29.8 per cent to $135 million from $104 million.

Its R&D expenditure grew by 27.8 per cent to $15.1 million or 7.1 per cent of net sales compared to 6.4  per cent in the last period. The company filed six ANDAs with the US DA and it is awaiting approval for 25 ANDAs and one NDA.   Its selling, marketing, general and administrative expenses, as percentage of net sales, was 10.3 per cent compared to 11.2 per cent.

For the nine months ended December 2013, Its net sales increased by 13.1 per cent to $572 million from 505 million and its net profit up by 24.9 per cent to $271 million as against $217 million. There was settlements and loss contingencies of $2.6 million compared to $11.3 million in the last period, related to certain price reporting litigation. Taro purchased 19,59,514 equity shares through tender offer.