Novartis India Q4 net profit up 22.30% at Rs 34 crore

NEW DELHI: Pharma company Novartis India today said its net profit rose by 22.30 per cent to Rs 34 crore for the fourth quarter ended March 31, 2011, over the same period previous fiscal.

The company had a net profit of Rs 27.8 crore in the same period last fiscal, Novartis India said in a filing to the Bombay Stock Exchange ( BSE).

Its net sales rose to Rs 171.4 crore for the quarter ended March 31, 2011, compared to Rs 148.9 crore in the same period previous fiscal.

For the year ended March 31, 2011, the company posted a net profit of Rs 146.6 crore, as against Rs 115.9 crore in the last fiscal.

The company's net sales on annual basis rose to Rs 708.6 crore from Rs 624.1 crore in the previous fiscal.

The company's board has also recommended a dividend of Rs 10 per equity share of Rs 5 each for the year ended March 31, 2011.

Shares of Novartis India today closed at Rs 700.70 on BSE, down 1.53 per cent from its previous close.