Novartis Mar qtr net up 34pc; to pay 200pc dividend

NEW DELHI: Pharma firm Novartis India today reported a 34 per cent jump in its March quarter net profit at Rs 27.8 crore over the same period previous fiscal.

Income from operations increased to Rs 156.6 crore for the quarter under review compared to Rs 137.8 crore in the same period corresponding fiscal, the pharma major said in a statement.

For the year ended March 2010, the company posted a net profit of Rs 115.9 crore compared to Rs 103.7 crore in the previous fiscal. Its income from operations rose to Rs 658.2 crore during the year against Rs 613.5 crore previous fiscal.

The company recommended a dividend of 200 per cent for the year.

Shares of Novartis today closed at Rs 559.15 on BSE, up 0.17 per cent from its previous close.