Novartis India fell 3.17% to Rs 635.10 at 11:55 IST on BSE after net profit slumped 87.3% to Rs 2.91 crore on 12.4% decrease in net sales to Rs 145.48 crore in Q4 March 2017 over Q4 March 2016.
The result was announced after market hours yesterday, 23 May 2017.
Meanwhile, the S&P BSE Sensex was up 99.38 points, 0.33% at 30,464.63. The S&P BSE Small-Cap index was up 54.25 points, 0.37% at 14,824.11.
On the BSE, 15,000 shares were traded on the counter so far as against the average daily volumes of 13,133 shares in the past one quarter. The stock had hit a high of Rs 649 and a low of Rs 630.20 so far during the day.
The stock had hit a 52-week high of Rs 855 on 25 May 2016 and hit a 52-week low of Rs 629.95 on 16 November 2016. The stock had underperformed the market over the past one month till 23 May 2017, declining 8.67% compared with the Sensex's 3.41% rise. The scrip had also underperformed the market over the past one quarter sliding 2.43% as against the Sensex's 5.1% rise.
The small-cap company has equity capital of Rs 15.98 crore. Face value per share is Rs 5.
Novartis India's board recommended a dividend of Rs 10 per equity share for the year ended March 2017.
Novartis India has core businesses in pharmaceuticals, vaccines, consumer health, generics, and eye care. Novartis AG holds 73.4% stake in Novartis India (as per the shareholding pattern as on 31 March 2017).
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)