Pharmaceutical company Merck Ltd on Wednesday reported 38.87 per cent decline in net profit at Rs. 15.77 crore for the second quarter ended September 30, 2013, on the account of increase in expenses.

The company has reported net profit of Rs. 25.80 crore in the same quarter a year ago.

Net sales in the quarter under review were at Rs. 201.81 crore, an increase of 11.37 per cent compared with Rs. 181.2 in the corresponding quarter in the previous year, the company said in a BSE filing.

Overall expenses during the quarter were at Rs. 188.16 crore, an increase of 21.95 per cent as against Rs. 154.29 crore in the same quarter last year.

The company’s shares were trading at Rs. 573 per scrip during the afternoon trade, down 0.39 per cent from its previous close, on the BSE.

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