Drug firm Sanofi India today reported a 57.98 per cent decline in net profit at Rs 50.5 crore for the fourth quarter ended December 2016 on account of higher expenses.
The company had reported a net profit of Rs 120.2 crore in the same period a year ago, Sanofi India said in a BSE filing.
The company follows the January-December financial year.
Net sales increased to Rs 592 crore during the quarter under review as compared to Rs 568.7 crore in the same period last fiscal.
Total expenses stood at Rs 525.9 crore during the October-December quarter of 2016, up 8.34 per cent from Rs 485.4 crore in the year-ago period.
In a separate filing, Sanofi India said its board has recommended a final dividend of Rs 50 per equity share of Rs 10 for the year ended December 2016.
Shares of the company settled 0.46 per cent up at Rs 4,157.85 on BSE.
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