BackNovartis India March quarter net profit more than doubles
The drug maker reported a profit of Rs51.9 crore from Rs23.9 crore in the year-ago period
Premium
New Delhi: Drug maker Novartis India on Wednesday said net profit for the March quarter more than doubled to ₹ 51.9 crore from ₹ 23.9 crore in the year-ago period.
Total income during the quarter was ₹ 207.6 crore, little changed from ₹ 200.6 crore in the previous corresponding quarter. The generics business generated ₹ 10 crore, up from ₹ 7.4 crore in the year-ago quarter.
During 2014-15, total income stood at ₹ 873.4 crore against ₹ 862.2 crore in the previous corresponding period. The pharmaceuticals business registered an income of ₹ 599.9 crore, against ₹ 580.6 crore in the previous year. Revenue from the generics business was ₹ 48.4 crore, down from ₹ 52.4 crore in the year-ago period. The over-the-counter products business registered ₹ 129.4 crore revenue, against ₹ 125.5 crore in the previous corresponding period.
The company recommended a dividend of ₹ 10 per equity share of ₹ 5 each. Novartis India is a subsidiary of the Basel, Switzerland-based Novartis International AG.
Shares of Novartis India rose 3.15% to ₹ 629.85 on the BSE on Wednesday, while the exchange’s benchmark Sensex rose 0.12% to 27,564.66 points and the BSE Healthcare index fell 0.36% to 16,850.33 points.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!
