Aventis Pharma Q1 net dips 21% to Rs 40 cr

The company board recommended a final dividend of Rs 29 per share of a face value of Rs 10

Aventis Pharma today said its net profit declined by 20.75% to Rs 40.1 crore for the first quarter ended March 31, 2012, over the same period previous year.

The pharmaceutical company reported a net profit of Rs 50.6 crore in the same period of previous year, Aventis Pharma said in a BSE filing.

"The profit of the quarter has been impacted due to the amortisation costs relating to the brands and technical know how acquired in 2011 from Universal Medicare and lower interest income as a result of the above investment," it said.

Net sales of the company rose to Rs 322.5 crore for the first quarter ended March 31, 2012, as compared to Rs 276.3 crore in the corresponding period of last year.

The company's board, which met today, recommended a final dividend of Rs 29 per share of a face value of Rs 10 for the year ended December 31, 2012.

Shares of the company today closed at Rs 2,138.10 on the BSE, down 2.67% over its previous close.