Novartis India Q1 net profit falls 6% to Rs 13.45 crore

NEW DELHI: Drug firm Novartis India today reported six per cent fall in its standalone net profit at Rs 13.45 crore for the first quarter ended June 30, 2015.

The company had posted a net profit of Rs 14.31 crore in the corresponding period of the previous fiscal, Novartis India said in a filing to the BSE.

Standalone total income from operations, however, rose to Rs 224.05 crore for the quarter ended June 30, 2015 as against Rs 208.75 crore for the same period a year ago.

During the quarter under review, the pharmaceuticals business of the company recorded total income from operations of Rs 168.9 crore as against Rs 150.6 crore in corresponding quarter.

The generics business, however, saw a fall in total income at Rs 11.2 crore for the quarter under consideration as against Rs 12.3 crore in the similar period a year ago.

The OTC business also recorded a fall in total income at Rs 19.5 crore as against Rs 22.8 crore a year ago.

However, the animal health business witnessed a rise in total income from operations at Rs 24.5 crore as against Rs 23 crore in the corresponding period.

Novartis India shares today closed 4.01 per cent down at Rs 889.80 apiece on the BSE.