New Delhi: Drug firm Abbott India Ltd on Thursday said its net profit rose by 17.06% to 31.70 crore for the first quarter ended 31 March 2013.

The company had posted a net profit of 27.08 crore for the same period in previous year, Abbott India said in a BSE filing.

The Mumbai-based firm follows January-December fiscal year.

Net sales of the company rose to 406.52 crore for the first quarter as against 366.44 crore during the same period of the previous year.

The company said its shareholders have approved a dividend of 17 per share for the year ended 31 December 2012, which would entail an outgo of 42.26 crore.

The company, which is a subsidiary of Abbott Laboratories, has presence in various therapeutic categories such as women’s health, gastroenterology, neurology, thyroid and diabetes.

Shares of Abbott India on Thursday closed at 1,378.95 on the BSE, up 0.28% from their previous close.