Novartis India reports 28.18% decline in Q1 net profit at Rs 26.98 cr

NEW DELHI: Pharma company Novartis India posted a decline of 28.18 per cent in its net profit at Rs 26.98 crore for the first quarter ended June 30, 2012, primarily on the increase in expenditure.

In the corresponding quarter of the previous fiscal, the company had posted a net profit of Rs 37.57 crore.

However, the net sales of the company increased to Rs 219.52 crore for the reported quarter from Rs 200.13 crore for the like period a year ago.

During the April-June quarter, company's total expenses stood at Rs 201.04 crore as against Rs 162.12 crore for the first quarter previous fiscal.