Novartis India Ltd has posted a net profit of Rs 12.2 crore for the quarter ended December 31, 2002 as compared to a net profit of Rs 17.53 crore in the corresponding period last fiscal. Total Income has increased from Rs 128.38 crore in DQ-01 to Rs 141.41 crore in the quarter ended December 31, 2002.
Profits during the period were impacted by adverse exchange rate movements, higher product promotional expenses and one time costs incurred for implementation of new ERP software. Impact partly offset by income from sale of the Goregaon property during this period.
Performance for the full year will depend on continued sales growth momentum, and exchange rates movements. The DPCO as and when introduced by Government could also impact future performance.