Novartis India Sheds Over 6% Even After Net Profit Rises 43% In March Quarter

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Shares of Novartis India were last trading 6.15 per cent lower at Rs 813.35 on the BSE.

Share price of Novartis India declined around six per cent on Friday, June 18, a day after the pharmaceutical company announced its January-March quarter results for the financial year 2020-21. On Friday, Novartis India opened on the BSE at Rs 881, swinging to an intra day high of Rs 883.35 and an intra day low of Rs 797.35, in the trading session so far. According to a regulatory filing by the company to the stock exchanges, Novartis India reported a profit of Rs 9.7 crore, up 43 per cent year-on-year, in the March quarter of fiscal 2002-21.

According to the statement, the pharma company reported a net profit of Rs 6.78 crore in the corresponding quarter of the previous fiscal. The company’s revenue from operations stood at Rs 99.29 crore, compared to Rs 93.7 crore in the year-ago period.

For the entire financial year 2020-21, Novartis India’s net profit jumped two-fold to Rs 20.9 crore, compared to Rs 10.9 crore in the previous fiscal of 2019-20.

On the NSE, Novartis India opened at Rs 875, inching to an intra day high of Rs 887.20 and an intra day low of Rs 796, in the session so far. It was last trading 5.96 per cent lower at Rs 816.70 on the NSE.
Shares of Novartis India were last trading 6.15 per cent lower at Rs 813.35 on the BSE.



Source link NDTV.com

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