Novartis India Q1 net profit jumps over 5-fold to Rs 4.39 cr on price cuts

Drug firm Novartis India on Thursday reported over five-fold jump in net profit at Rs 4.39 crore for the quarter ended June 30, 2020, mainly on account of reduction in expenses.

The company had posted a net profit of Rs 79 lakh in the corresponding period of previous fiscal, Novartis India said in a filing to the BSE.

Revenue from operations stood at Rs 92.46 crore in the quarter under consideration as against Rs 109.31 crore in the same quarter a year ago, it added.

Total expenses of the company were at Rs 93 crore in the quarter under review as against Rs 118.89 crore in April-June quarter a year ago.

Shares of Novartis India on Thursday closed 0.95 per cent lower at Rs 644.40 on the BSE.