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Novartis India announces results for the quarter and year ended March 31, 2017

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During FY 2016-2017 total income stood at ₹ 726.4 crore in comparison to ₹ 770.8 crore recorded in the previous corresponding period. Board recommends dividend of ₹ 10 per equity share of ₹5 each

At a meeting held in Mumbai, the Board of Novartis India approved results for the quarter and financial year ended March 31, 2017 and recommended dividend of ₹ 10 per equity share of ₹ 5 each.

During the quarter under review, total income was ₹ 160.3 crore in comparison to ₹ 187.2 crore recorded in the previous corresponding quarter. Total comprehensive income for the quarter under review was ₹ 4.9 crore as against ₹ 21.6 crore in the previous corresponding quarter. During FY 2016-2017 total income stood at ₹ 726.4 crore in comparison to ₹ 770.8 crore recorded in the previous corresponding period.

During the year ended under review, profit before tax from continuing operations was ₹ 91.7 crore as against profit of ₹ 111.4 crore in the previous corresponding period. Reportedly Profit was impacted as the company has had a substantial impact on account of reduction in prices of products covered under National List of Essential Medicines(NLEM).

Total comprehensive income for FY 2016-2017 was ₹ 57.7 crore as against ₹ 198.6 crore in the previous corresponding full year period. Previous corresponding period FY 2015-2016 includes profit of ₹ 125.8 crore from discontinued operations of OTC division and Animal Health division

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