Novartis Q4 net dips 3 percent at Rs 33 cr

New Delhi: Drug firm Novartis India today said its net profit declined by 3.23 percent to Rs 32.9 crore for the fourth quarter ended 31 March 2012.

The company had posted a net profit of Rs 34 crore during the same period of previous fiscal, Novartis India said in a filing to the BSE.[caption id=“attachment_320236” align=“alignleft” width=“380” caption=“Logo of Swiss drugmaker Novartis AG in front of a plant in Basel. Reuters “]  [/caption]

Net sales of the company, however, rose to Rs 204.48 crore for the fourth quarter, as against Rs 182.72 crore during the corresponding period of previous fiscal.

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For the year ended 31 March 2012, the company posted a net profit of Rs 152.02 crore, as against Rs 146.67 crore in 2010-11 fiscal.

Net sales of the company for the year ended 31 March 2012 stood at Rs 844.28 crore, as compared to Rs 751.19 crore in the previous fiscal.

The company’s board, which met today, also recommended a dividend of 200 per cent – Rs 10 per share of Rs 5 each, for the year ended 31 March 2012.

Shares of Novartis India today closed at Rs 719.25 on the BSE in late afternoon trade, up 0.58 percent from its previous close.

PTI