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Our Bureau

Mumbai , Jan. 28

NOVARTIS India Ltd has posted a net profit of Rs 21.8 crore for the quarter ended December 31, 2004, down 55.32 per cent compared to Rs 48.8 crore for the corresponding period in December 31, 2003. Total income has decreased from Rs 152.4 crore in the third quarter in 2003 to Rs 140.83 crore for the quarter ended December 31, 2004, the company told BSE.

In an official communiqué, Novartis said that its generics business continued to under perform and registered a 2.3-per-cent drop in sales. However, the over-the-counter business grew by 10.3 per cent, the note added.

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