Novartis India Q4 net up at Rs 24 cr
Pharma company Novartis India on Friday posted a net profit of Rs 23.87 crore for the quarter ended March 31, where as the same was at Rs 19.99 crore for the same quarter last year.
By PTI |
MUMBAI: Pharma company Novartis India on Friday posted a net profit of Rs 23.87 crore for the quarter ended March 31, where as the same was at Rs 19.99 crore for the same quarter last year.
The total income was Rs 144.64 crore for the fourth quarter ended March 31, while the same was at Rs 121.52 crore a year ago, Novartis India informed the Bombay Stock Exchange.
The board of directors at its meeting today said, "interim dividend of Rs 10 on equity shares of Rs 5 each (200 per cent) will be the final dividend."
For the year ended March 31, the company recorded a net profit of Rs 88.55 crore as against Rs 107.89 crore for the year-ago period and the total income was Rs 592.32 crore where as the same was at Rs 591.93 crore for the year ended March 31, 2006.
The company had changed the method of providing depreciation on fixed assets from Written Down Value (WDV) method to Straight Line Method (SLM) with effect from April 1, 2005.
Further, on the basis of an internal evaluation, the company had revised the estimated useful life of certain fixed assets with effect from April 1, 2005.
"Such revision in useful lives of fixed assets and change in the method resulted in a net write back of depreciation in the previous year and hence, the depreciation charge for the previous year is not comparable with that for the current year," Novartis India said.
The shares of the company closed at Rs 323.10, up 0.97 per cent on BSE.
Start a SIP with as low as ₹500 with ET Money App!
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
