New Delhi, Apr 26 (PTI) Drug firm Sanofi India on Tuesday said its net profit increased by 63 per cent to Rs 238.4 crore for the first quarter ended March.

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The company had reported a net profit of Rs 145.9 crore in the year-ago period.

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Revenue from operations, however, declined to Rs 707 crore in the quarter under review as against Rs 725.1 crore in the same period of last year, the company said in a regulatory filing.

Sanofi India follows a January-December financial year.

The company's board, at its meeting held on November 25, 2021, had approved the transfer of certain assets namely marketing intangibles, trade channel, among others related to the distribution business of Soframycin and Sofradex.

The transaction concluded on January 31, 2022 and the company received full consideration of Rs 136.9 crore during the March quarter.

The company has accounted a gain of Rs 118.1 crore from sale of this business during the quarter, it said.

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