New Delhi: Novartis India on Monday reported a 43.82% increase in net profit at Rs18.74 crore for the third quarter ended December 2017.

The company had posted a net profit of Rs13.03 crore in the same period of the previous fiscal. Total income of the company during the period under review stood at Rs170.55 crore compared with Rs179.46 crore in the same period of the last fiscal, Novartis India said in a BSE filing.

The board of directors of Novartis India also announced the appointment of Jawed Zia as vice chairman and managing director of the company effective 1 March 2018. Jawed Zia is currently head of pharmaceuticals, Novartis India. Zia succeeds Ranjit Shahani who holds this position until 28 February, 2018.

Shares of Novartis India settled 1.04% down at Rs650.50 apiece on BSE on Monday.