Drug firm Novartis India, on Thursday, said its net profit declined by 3.23 per cent to Rs.32.9 crore for the fourth quarter ended March 31, 2012, from Rs.34 crore during the same period of the previous fiscal, Novartis India said in a filing to the BSE.

Net sales, however, rose to Rs.204.48 crore from Rs.182.72 crore. For the year ended March 31, 2012, the company posted a net profit of Rs.152.02 crore against Rs.146.67 crore. Net sales stood at Rs.844.28 crore against Rs.751.19 crore.

The board has recommended a dividend of Rs.10 per share of Rs.5 each, for 2011-12.

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