Date:20/05/2006 URL: http://www.thehindubusinessline.com/2006/05/20/stories/2006052002890200.htm

Back Novartis Q4 net up at Rs 19.9 cr

Our Bureau

Mumbai , May 19

Novartis India Ltd has posted a net profit of Rs 19.9 crore for the fourth quarter ended March 31, 2006, compared to Rs 46 lakh for the quarter ended March 31, 2005. Total income for the period under review was Rs 121.52 crore (Rs 97.51 crore).

The company posted a net profit of Rs 107.89 crore for the year ended March 31, 2006, compared to Rs 65.12 crore for the year ended March 31, 2005. Total income is Rs 591.93 crore (Rs 511.86 crore). The company said that its performance was not comparable to that of the previous year as Novartis sold its Rifampicin bulk drug business with its facility situated at Mahad, Maharashtra, to Sandoz Pvt Ltd for Rs 35 crore, effective April 2005. Novartis India Ltd is an affiliate of Novartis AG, based in Basle, Switzerland.