Novartis India Q2 net up 18% at Rs 26 crore

Drug firm Novartis India today reported a 17.60 per cent rise in its net profit to Rs 26.12 crore for the quarter ended September 30, 2017.
The company had posted a net profit of Rs 22.21 crore for the corresponding period of the previous fiscal, Novartis India said in a filing to the BSE.
In a separate filing, the company announced the resignation of its vice chairman and managing director Ranjit Shahani with effect from February 28, 2018.
Shahani informed the board of directors at a meeting held today of his decision to step down from the office of vice chairman and managing director effective February 28, 2018 (close of business hours) after 20 years of distinguished service with the company, the statement said.

Total income of the company, however, stood at Rs 192.75 crore for the quarter under consideration. It was Rs 194.21 crore for the same period a year ago, Novartis India said.
Shares of Novartis India Ltd today closed at Rs 644.90 per scrip on the BSE, up 1.34 per cent from its previous close.