Novartis India announces dividend of ₹25 per share, net profit slides 41% in Q4

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Drug firm Novartis India Ltd on Friday reported a 41.6% year-on-year (YoY) decline in net profit at ₹14.6 crore for the fourth quarter that ended March 31, 2024.

In the corresponding quarter last fiscal, Novartis India posted a net profit of ₹25 crore, the company said in a regulatory filing. The company’s revenue from operations increased 6.7% to ₹81.2 crore against ₹76.1 crore in the corresponding period of the preceding fiscal.

At the operating level, EBITDA grew 21.7% to ₹11.2 crore in the fourth quarter of this fiscal over ₹9.2 crore in the year-ago period.

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The EBITDA margin stood at 13.8% in the reporting quarter versus 12.1% in the fourth quarter of FY23. EBITDA is earnings before interest, tax, depreciation, and amortisation.

The board has recommended a final dividend of ₹25 per equity share (of the face value of ₹5 each) for the financial year ending March 31, 2024, subject to the approval of the shareholders of the company. The final dividend, if passed, will be paid on or after August 5, 2024.

The results came after the close of the market hours. Shares of Novartis India Ltd ended at ₹1,066.20, up by ₹12.40, or 1.18%, on the BSE.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow