Beijing Double-Crane Pharmaceutical Co<600062> on Thursday said its net profit for the third quarter was RMB 111.98 million, up 21.75% year on year, the Shanghai Securities News reported.

The firm's earnings per share were RMB 0.22 in the latest quarter, up 10.38% from a year earlier. The return on equity was 3.33% during the period.

Double-Crane Pharmaceutical realized a net profit of RMB 352 million in the first nine months of this year.

The company said in a statement filed with the Shanghai Stock Exchange today that the firm has allocated RMB 436.63 million to build a solid-preparation workshop.

The new project, to be located at the firm's factory in Beijing, will be operational by the end of 2011.

The project is expected to improve profitability and enhance the quality control of the firm, according to the statement.