Pfizer net up 84% to Rs 24.77 crore

Pfizer has posted 84 per cent growth in net profit for the first quarter of the current financial year ended February 28, 2006 at Rs 24.77 crore, compared to Rs 13.46 crore in the corresponding period of the last year. Net sales of the company grew 9.81 per cent during the period "� from Rs 132.93 crore, to Rs 145.98 crore.

Pfizer, which has shown improved performance in few of its over-the-counter segments, reported 56.30 per cent growth in profit before exceptional items and tax at Rs 44.47 crore in the quarter under review against the corresponding previous quarter's Rs 28.45 crore.

Kewal Handa, managing director, attributed the growth in sales to good performance of its flagship brands, namely Corex and Listril.

He added that the erectile dysfunction treatment product Viagra had done extremely well.

Handa added that the company had sold the land and buildings at its Ankleshwar plant for Rs 5.75 crore, which was on sale for quite some time.

Total sales of the company during the period rose 7.56 per cent, to Rs 169.54 crore this year, up from Rs 157.62 crore last year. Total income rose to Rs 158.04 crore, an 11.55 per cent growth over the last year's corresponding period, which saw an income of Rs 141.67 crore.

Other incomes grew 37.98 per cent to Rs 12.06 crore from Rs 8.75 crore. Earnings per share improved to Rs 8.30 at the end of the quarter under review from Rs 4.51 in the corresponding previous quarter.

On Tuesday the Pfizer stock closed at Rs 1,027.35 on the Bombay Stock Exchange, 2.16 per cent higher than yesterday's close at Rs 1,005.60.