Novartis India announces results for the quarter and year ended March 31, 2013

The Board of Novartis India has approved results for the quarter and financial year ended March 31, 2013, at a recently held meeting in Mumbai. During the quarter ended March 31, 2013, net sales/income from operations of Rs 212.9 crores registered a growth of 4.9 per cent over the corresponding previous quarter. During the quarter under review, the pharmaceuticals business recorded net sales/income from operations of Rs 142.5 crores as against Rs 137.2 crores in the last year. The generics business recorded net sales/income from operations of Rs 16.2 crores as against Rs 14 crores in the last year. OTC business registered net sales/income from operations of Rs 29.9 crores as against Rs 29.3 crore. Profit before tax was at Rs 29.8 crores and profit after tax stood at Rs 24.4 crores.

During 2012-13, overall company net sales/income from operations of Rs 903.4 crores represented an increase of seven per cent over net sales/income from operations of Rs 844.3 crores recorded during the corresponding prior period. Profit before tax for the year stood at Rs 169.4 crores as against Rs 224.7crores for the corresponding previous year. Profit after tax stood at Rs 119.7 crores as against Rs 152 crores during the previous comparable period.

During the year under review, the pharma business registered net sales/income from operations of Rs 634.9 crores. The generics business recorded net sales/income from operations of Rs 62.5 crore. The OTC business registered net sales/income from operations of Rs 110.5 crores.

The company has recommended dividend of Rs 10 per equity share of Rs 5 each.

EP News Bureau – Mumbai