Novartis India has posted net profit of Rs.59.81 crore during the quarter ended December 2015 mainly due to receipt of the sale consideration in relation to the slump sale of the animal health division to Elanco India Pvt Ltd amounting to Rs.86.7 crore. The company incurred a net loss of Rs.4.72 crore in the corresponding period of last year. The net sales declined by 13.9 per cent to Rs.183.28 crore from Rs.213.02 crore. EPS worked out to Rs.18.72 as against negative Rs.0.37 in the last period.

The figures are not strictly comparable as the company enter into the agreement with GlaxoSmithKline Plc to divest its OTC business for a consideration of Rs.109.73 crore and divestment of animal health business to affiliate of Eli Lilly and Company i.e. Elanco India Pvt Ltd for a consideration of Rs.86.68 crore.

Novartis' pharmaceuticals sales increased by 6 per cent to Rs.158.61 crore from Rs.149.60 crore in the previous corresponding quarter. The sales of generic products declined by 29.5 per cent to Rs.8.92 crore from Rs.12.66 crore. The sales of animal health business increased to Rs.25 crore from Rs.24.2 crore.  

For the nine months ended December 2015, Novartis' net sales declined by 4.4 per cent to Rs.614.81 crore from Rs.642.91 crore in the same period of last year basically due to lower sales from OTC business as the company sold the OTC division to GlaxoSmithKline Consumer Pvt Ltd. Its net profit went up to Rs.177 crore from Rs.27 crore. Its pharmaceuticals sales increased to Rs.491 crore from Rs.455.5 crore and that of generic sales declined to Rs.33.80 crore from Rs.38.50 crore.