Novartis Q1 net profit zooms 734.08% at Rs 52.38 cr
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The company reported standalone net profit of Rs 52.38 crore for the quarter ended June 30, 2022 as compared to Rs 6.28 crore in the same period last year, registering a year-on-year growth of 734.08 per cent. Net revenue of the company rose substantially by 23.25 per cent at Rs 120.92 crore in April-June quarter of this fiscal as against Rs 98.11 crore in the corresponding period last year. During April-June quarter, operating expenses dropped by 1.27 per cent to Rs 89.12 crore from Rs 90.27 crore in year ago period.
Other Income grew by 310.53 per cent at Rs 26.52 crore versus (Jun'21 Rs 6.46 crore). Operating Profit surged by 305.61 per cent to Rs 31.80 crore as against Rs 7.84 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 229.16 per cent in June quarter. Interest declined by 67.53 per cent y-o-y to Rs 0.50 crore, while Taxation increased by 15.97 per cent at Rs 4.14 crore (Jun'21 Rs 3.57 crore).
