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Decent results from Novartis - Views on News from Equitymaster
 
 
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  • Jan 29, 2000

    Decent results from Novartis

    Novartis has reported decent results for the third quarter with an 18% jump in the topline and a 46.8% jump in the net profit. The operating margins excluding other income have improved marginally. The 47% growth in other income has helped take the increased fixed costs and still report a 25% growth in the pre-tax profits.

    The other income of Rs.112 million includes 66 million from the development agreement for a portion of the land in Goregaon. The company derives 48% of its revenues from healthcare, 45% from pesticides and 7% from seeds. While in healthcare the company operates in the higher therapeutic areas, its pesticide business is dependent on two crops, rice and cotton. Another grey area is the uncertainty among analysts of the long term propspects of the company given the company's stated intention of launching new products in areas such as nutritionals through 100% subsidiaries.

    (Rs m) 3QFY2000 3QFY1999 Change
    Net Sales 2,340 1,981 18.1%
    Other Income 112 76 47.4%
    Total Expenditure 1,911 1,628 17.4%
    Interest 10 6 66.7%
    Depreciation 58 44 31.8%
    Profit before Tax 473 379 24.8%
    Tax 150 159 -5.7%
    Profit after Tax/(Loss) 323 220 46.8%
    Net profit margin (%) 13.8% 11.1%  

     

     

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