Novartis India suffered heavy setback during the second quarter ended September 2006 basically due to selling of its assets during the last period. Its net profit declined sharply over 35 per cent to Rs 17.87 crore from Rs 27.53 crore. Its net sales also dwindled by 11.5 per cent to Rs 138.25 crore from Rs 156.20 crore.
During the last period ended September 2005, Novartis has shown an amount of Rs 26.8 crore as profit on sale of assets and insurance claims. This resulted in higher net profit during the last period.
With lower net profit it's earning per share worked out to Rs 5.59 as compared to Rs 8.61 in the similar period of last year.