Novartis India Q3 net profit soars 44 per cent at Rs 187.4 million

Novartis India today reported a 43.82 per cent increase in net profit at Rs 187.4 million for the third quarter ended December 2017.

The company had posted a net profit of Rs 130 crore in the same period of the previous fiscal.

Total income of the company during the period under review stood at Rs 1705.5 million compared with Rs 1794.6 million in the same period of the last fiscal, Novartis India said in a BSE filing.

The board of directors of Novartis India also announced the appointment of Jawed Zia as vice chairman and managing director of the company effective March 1, 2018.

Jawed Zia is currently Head Pharmaceuticals, Novartis India. Zia succeeds Ranjit Shahani who holds this position until February 28, 2018.

Shares of Novartis India settled 1.04 per cent down at Rs 650.50 apiece on BSE today.