Novartis posts Q4 net loss of Rs 23.37 cr
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The company reported standalone net loss during the quarter stood at Rs 23.37 crore compared to net profit of Rs 9.70 crore in the previous year quarter. Net revenue of the company declined by 0.98 per cent at Rs 98.32 crore in January-March quarter of this fiscal as against Rs 99.29 crore in the corresponding period last year. During January-March quarter, operating expenses increased by 10.33 per cent to Rs 92.70 crore from Rs 84.02 crore in year ago period.
Other Income grew by 16.63 per cent at Rs 14.31 crore versus (Mar'21 Rs 12.27 crore). Operating Profit slipped by 63.20 per cent to Rs 5.62 crore as against Rs 15.27 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 62.81 per cent in March quarter. Interest declined by 87.87 per cent y-o-y to Rs 0.33 crore, while Taxation decreased by 165.41 per cent at Rs -7.98 crore (Mar'21 Rs 12.20 crore).
