Novartis India Ltd has posted a net profit of Rs 62 crore in the year ended March 31, 2003 as compared to Rs 65.30 crore in the year ended March 31, 2002. Total Income has increased from Rs 496.74 crore in FY-02 to Rs 511.97 crore in the year ended March 31, 2003.

The company has posted a net profit of Rs 1.32 crore for the quarter ended March 31, 2003 as compared to Rs 19.20 crore in the quarter ended March 31, 2002. Total Income has decreased from Rs 127.99 crore in the quarter ended MQ-02 to Rs 86.13 crore in the quarter ended March 31, 2003.

The company has recommended a dividend of 150% (Rs 7.50 per equity share of Rs 5 each) for the year ended March 31, 2003.

The Board has also recommended a proposal to buyback company shares at a price of Rs 250 per share through the stock exchange route upto a maximum permissible level of Rs 60.86 crore.