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| Exchange Disseminated Time | Novartis India Ltd has announced the following results for the quarter & year ended March 31, 2007:
The Unaudited results for the Quarter ended March 31, 2007
The Company has posted a net profit of Rs 238.70 million for the quarter ended March 31, 2007 where as the same was at Rs 199.90 million for the quarter ended March 31, 2006. Total Income is Rs 1446.40 million for the quarter ended March 31, 2007 where as the same was at Rs 1215.20 million for the quarter ended March 31, 2006.
The Audited results for the Year ended March 31, 2007
The Company has posted a net profit of Rs 885.50 million for the year ended March 31, 2007 where as the same was at Rs 1078.90 million for the year ended March 31, 2006. Total Income is Rs 5923.20 million for the year ended March 31, 2007 where as the same was at Rs 5919.30 million for the year ended March 31, 2006.
The Company had changed the method of providing depreciation on fixed assets from Written Down Value (WDV) method to Straight Line Method (SLM) with effect from April 01, 2005. Further, on the basis of an internal evaluation, the Company had revised the estimated useful life of certain fixed assets with effect from April 01, 2005. Such revision in useful lives and change in the method resulted in a net write back of depreciation in the previous year and hence, the depreciation charge for the previous year is not comparable with that for the current year. |
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