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Mumbai, July 19 Novartis India Ltd saw a 11.27 per cent dip in its net profit, at Rs 22.84 crore for the quarter ended June 30, as compared to Rs 25.74 crore for the quarter ended June 30, 2006.

The company cited stagnant sales and higher costs during the quarter, as the reason for lower net profit. The company’s total income also saw a decrease from Rs 151.68 crore for the quarter ended June 30, 2006 to Rs 150.94 crore for the quarter ended June 30, 2007.

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