BUDAPEST, Nov 11 (Reuters) - Hungarian drug maker Richter Gedeon's third-quarter net profit soared 77 percent as a drop in operating profit was more than offset by foreign exchange gains.
Richter's third-quarter net profit rose to 14.29 billion forints from 8.06 billion a year earlier and came well above analysts' expectation for 11.5 billion in a Reuters poll.
Sales revenues were flat, in line with forecasts, while operating profit dropped 13 percent to come slightly short of expectations.
Domestic sales fell 27 percent but the decline was a result of Richter dropping its drug wholesaler unit from its consolidation.
Although the company did not provide data excluding the impact of the wholesaler, analysts said the figures would be close to flat and the sharp drop reported by Richter did not reflect the firm's actual performance.
Exports rose 14 percent when calculated in euros on sharply higher European and U.S. sales and a drop in Russian exports.
In Poland, one of Richter's fastest growing markets, exports were up by 35 percent but sales in Russia, traditionally Richter's strongest market, sales were down 19 percent.
Richter's bottom line also showed a boost of 5.73 billion forints mostly on foreign exchange gains on outstanding receivables and debt after the forint fell sharply versus the euro and the dollar in the closing weeks of the quarter.

(Reporting by Balazs Koranyi; Editing by Gary Hill) ($1=203.52 Hungarian Forint) Keywords: RICHTER EARNINGS/ (balazs.koranyi@reuters.com; +36 1 327 4753; Reuters Messaging: balazs.koranyi.reuters.com@reuters.net)

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