Novartis India has suffered a setback during the second quarter ended September 2013 and its sales as well as EBDITA and profit before tax declined sharply. Its net sales declined by 10.8 per cent to Rs.209.18 crore from Rs.234.40 crore in the similar period of last year. Its EBDITA declined sharply by 74.9 per cent to Rs.14.85 crore from Rs.59.16 crore. The profit before tax went down by 76.3 per cent to Rs.13.86 crore from Rs.58.36 crore. However, its net profit after tax improved by 15.8 per cent to Rs.45.55 crore as the company has shown tax credit of Rs.31.69 crore as against tax provision of Rs.19.02 crore in the corresponding period of last year.

The pharmaceuticals sale declined by 18.6 per cent to Rs.137.21 crore from Rs.168.54 crore and that of generic went down by 5.1 per cent to Rs.14.09 crore from Rs.14.84 crore. The sales from OTC improved by 18.2 per cent to Rs.33.53 crore from Rs.28.37 crore. Animal health division also posted sales of Rs.29.09 crore as compared to Rs.25.60 crore. During the quarter, Novartis AG reduced its promoter shareholding in the company to 75 per cent.

For the first half ended September 2013, Novartis' net sales declined by 4.8 per cent to Rs.428.21 crore from Rs.449.70 crore and its net profit declined by 10.4 per cent to Rs.59.42 crore from Rs.66.32 crore. Its EBDITA for the first half declined sharply by 61.8 per cent to Rs.38.07 crore from Rs.99.62 crore.