Novartis net dips 24%

Drug-maker Novartis saw a 24 per cent dip in its profit after tax at Rs 29 crore for the three months ended December 31, 2012, after providing for Rs 12 crore as tax. The company registered a profit after tax of Rs 38.4 crore in the corresponding period of the previous year. Its total income from operations stood at Rs 233.5 crore, a growth of 5 per cent over the corresponding previous quarter. Novartis’ core business of pharmaceuticals registered revenues of Rs 161.8 crore (Rs 153.3 crore). Its generic drugs business recorded a total income from operations of Rs 15.7 crore (Rs 14.2 crore). The animal health business clocked an income of Rs 23.7 crore (Rs 20.7 crore). And the over-the-counter business recorded a total income of Rs 32.3 crore (Rs 34.2 crore). Novartis share was marginally down at Rs 653 on the BSE on Wednesday.