Novartis India Q1 net at Rs 19 crore

The company's shares were trading at Rs 718 per scrip on BSE, up 1.90%

Drug firm Novartis India on Thursday reported a standalone net profit of Rs 19.07 crore for the first quarter ended June 30, 2016.

The company had posted a net profit of Rs 13.34 crore for the corresponding period of the previous financial year Novartis India said in a filing on BSE.

Standalone total income from operations of the company stood at Rs 171.31 crore for the quarter under consideration. It was Rs 222.89 crore for the same period year ago.

"The figures for the quarter ended June 30, 2016 are not comparable to those of the previous quarter ended June 30, 2015 on account of sale of OTC and Animal Health divisions on September 30, 2015 and December 31, 2015 respectively," Novartis India said.

 

In a separate filing, Novartis India said its board has approved "resignation of Girish Tekchandani, company secretary & compliance officer effective close of business hours on August 12, 2016."

Shares of Novartis India on Thursday were trading at Rs 718 per scrip in the afternoon trade on BSE, up 1.90% from its previous close.