Novartis India Q4 net profit dips 26 per cent at Rs 24 crore

NEW DELHI: Drug firm Novartis India on Tuesday reported a 25.82 per cent dip in its net profit to Rs 24.41 crore for the quarter ended March 31, 2013 over the corresponding period in the previous fiscal.

The company had posted a net profit of Rs 32.91 crore for the quarter ended March 31, 2012.

Net sales of the company during the period under review rose to Rs 208.21 crore from Rs 198.50 crore for the same period year ago, Novartis said in a filing to BSE.

In a separate filing to BSE the company said its Board of Directors has considered and approved dividend recommendation of Rs 10 per equity share of Rs 5 each for the year ended March 31, 2013.

For the fiscal year ended march 31, 2013, net profit of the company stood at Rs 119.73 crore as against Rs 152.02 crore for the year ago period.

Net sales of the company for the full fiscal rose to Rs 886.10 crore from Rs 829.57 crore in the previous fiscal.

Shares of Novartis India today closed at Rs 575.60 per scrip on BSE, up 0.14 per cent from its previous close.