Millennium Post

Novartis India suffers 26% Q4 profit plunge

Drug firm Novartis India on Tuesday reported a 25.82 per cent dip in its net profit to Rs 24.41 crore for the quarter ended 31 March 2013 over the corresponding period in the previous fiscal.

The company had posted a net profit of Rs 32.91 crore for the quarter ended 31 March 2012. Net sales of the company during the period under review rose to Rs 208.21 crore from Rs 198.50 crore for the same period year ago, Novartis said in a filing to BSE.

In a separate filing to BSE the company said its Board of Directors has considered and approved dividend recommendation of Rs 10 per equity share of Rs 5 each for the year ended 31 March, 2013.

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