Pharmaceutical firm Novartis India has declared its first quarter financial results for the fiscal year 2010-11. The company has informed that there has been a marginal decline in its net profit for the June quarter of this year against the similar period last year.

Novartis India has posted a net profit of Rs 31.53 crore for this quarter which was reported to be Rs 31.76 crore for the corresponding quarter last year.

However, there has been a hike in company's net sales during the April-June period of fiscal year 2010 against last year.

So far as the net sales of the firm are concerned, it has gone up to Rs 168.28 crore in the April-June of FY 11.

The company's last year June quarter net sales was Rs 153.18 crore. Hence there has been a hike of 9.85% in the net sales of the Pharmaceutical firm in the Q1 this year against Q1 of the preceding year. This has been informed by Novartis India in a filing at the Bombay Stock Exchange.