Novartis India second quarter results announced: profit fell 13.81% year-on-year

Novartis India second quarter results announced: profit fell 13.81% year-on-year

2024-10-27 03:48:33 :

Novartis India’s second quarter results released live: Novartis India announced its second quarter results on October 25, 2024, reporting revenue growth of 10.59% year-on-year. However, the company faced challenges, with profits falling by 13.81% during the same period.

Compared with the previous quarter, Novartis’ revenue fell by 5.62%, and its profit dropped significantly by 20.71%. This suggests potential headwinds the company may need to address in the future.

It is worth noting that selling, general and administrative (SG&A) expenses showed a positive trend, falling 5.97% month-on-month and 3.17% year-on-year. The cuts may be a strategic move to improve profitability amid rising costs.

Operating income decreased by 25.79% month-on-month, but increased by 6.89% year-on-year. The mixed performance highlights continued fluctuations in operating efficiency.

Second quarter earnings per share (EPS) were $8.27, a year-on-year decrease of 13.76%, which may worry investors looking for continued growth.

In terms of stock performance, Novartis India returned -4.82% last week, 1.07% over the past six months and an impressive 36.7% year-to-date, indicating investor sentiment A mixed bag of good and bad.

As of now, the market capitalization of Novartis India is $2,609.94 billion rupees, a new 52-week high $1248 lowest $599.95, indicating that its stock price fluctuated greatly during the year.

Novartis India Financials

periodQ2Q1month-on-month growthQ2year-on-year growth
total revenue87.192.29-5.62%78.76+10.59%
Total Selling/General/Administrative Expenses5.25.53-5.97%5.37-3.17%
Depreciation/Amortization0.580.55+5.45%0.65-10.77%
total operating expenses69.7268.87+1.23%62.5+11.55%
operating income17.3823.42-25.79%16.26+6.89%
net income before tax27.5633.68-18.17%32.43-15.02%
net income20.4125.74-20.71%23.68-13.81%
Diluted normalized earnings per share8.2710.42-20.63%9.59-13.76%
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