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 Drug firm Sanofi India on Wednesday reported a 12.30 per cent increase in net profit at Rs. 57.5 crore for the second quarter that ended on June 30, 2014.

The company had posted a net profit of Rs. 51.2 crore for the corresponding period a year ago.

Net sales rose 18.70 per cent to Rs. 486.7 crore during the quarter under review from Rs. 410 crore a year ago, it said in a filing to the BSE.

Overall expenses stood at Rs. 431.9 crore in the quarter as against Rs. 370.4 crore a year ago.

The company's board, which met on Wednesday, recommended an interim dividend of Rs. 10 per equity share.

Shares in Sanofi India, on Wednesday, ended at Rs. 2939.50 apiece on the BSE, down 1.24 per cent from the previous close.

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The Nifty rose to a record high on Wednesday, gaining for a seventh straight session, led by technology stocks on continued buying by foreign-investors on a positive earnings outlook, while firm Asian markets also helped sentiment.

The broader Nifty has risen 27.90 percent in U.S. dollar terms this year, the second best performer in Asia, helped by strong foreign flows on expectations the government headed by Prime Minister Narendra Modi would usher in reforms and effect a rebound in Asia's third largest economy.

Overseas investors bought Indian shares worth Rs. 412 crore ($68.6 million) on Tuesday, marking inflows of $620.86 million over five consecutive days of buying, exchange and regulatory data showed.