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Novartis India drops as PAT falls 40% Y-o-Y

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Novartis India declined 0.31% to Rs 192.95 after standalone net profit tumbled 39.9% to Rs 7.73 crore in Q3 December 2019 (Q3 FY20) as against Rs 12.87 crore reported in Q3 December 2018 (Q3 FY19).

Net sales slipped 13.4% year-on-year (Y-o-Y) to Rs 117.46 crore in Q3 FY20. The Q3 figures were released after market hours yesterday, 11 February 2020.

Profit before tax fell 52.6% to Rs 11.38 crore Y-o-Y. Current tax expenses declined 36.3% to Rs 6.83 crore during the period under review.

Novartis India manufactures drugs, medicines and allied products. The firm is engaged in the wholesale of pharmaceuticals and medical goods. The company focuses on over three divisions, including pharmaceuticals, eye care and generic medicines.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, February 12 2020. 15:32 IST