InvestorQ : Why did Novartis report such a sharp fall in profits when pharma companies have done well overall?
Khushi Patel made post

Why did Novartis report such a sharp fall in profits when pharma companies have done well overall?

Answer
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Anjana Aiyar answered.
3 months ago


International drug firm’s India unit, Novartis India, reported 65.28% fall in net profit to Rs.6.78 crore for the Mar-20 quarter. The total revenues from core operations were also down about 15% on a YOY basis at Rs.93.70 crore. The full year profits of the company were down by nearly 80% at Rs.10.08 crore. Shares of Novartis India Ltd traded marginally down at Rs 602.25 at close on Friday. The fall in profits was largely driven by higher costs during the quarter.