Novartis India Q4 net profit rises 43% to Rs 9.7 crore

#Novartis India, #Q4 profit, #Results

Pharmaceuticals firm Novartis India on June 17 reported a 43 percent increase in net profit at Rs 9.7 crore for the fourth quarter ended March 31, 2021.

The company had posted a net profit of Rs 6.78 crore in the same quarter of the previous fiscal, Novartis India said in a regulatory filing.

Revenue from operations stood at Rs 99.29 crore as compared to Rs 93.7 crore in the year-ago quarter.

Total expenses in the fourth quarter were marginally higher at Rs 89.66 crore as against Rs 88.09 crore earlier, the company said.

For the full fiscal 2020-21, the company said its net profit jumped over two-fold to Rs 20.9 crore from Rs 10.08 crore in 2019-20.

Revenue from operations for FY21 stood at Rs 381.35 crore as against Rs 438.25 crore in FY20.

The board of directors of the company has recommended a 200 percent dividend of Rs 10 per share of Rs 5 each for the year ended March 31, 2021, Novartis India said.

During the quarter and the year ended March 31, 2021 the company continued to ensure uninterrupted supply of its products, it said, adding the impact assessment of COVID-19 is a continuing process given the uncertainties associated with its nature and duration.

“The company will continue to monitor any material changes to future economic conditions,” it added.

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