Pfizer net up by 62 per cent to Rs 22 crore

Pfizer Ltd has posted 62.35 growth per cent in net profit, at Rs 21.82 crore for the quarter-ended August 31 compared with Rs 13.44 crore recorded for the corresponding quarter in the previous year. The company's total income has increased from Rs 150.14 crore during the quarter under review to Rs 172.93 crore.

During the second quarter of the current fiscal, it's net profit grew to more than 100 per cent at Rs 15.47 crore compared with Rs 7.74 crore for the quarter ended May 31, 2004 with a total income of Rs 145.13 crore.

Pfizer also rung in changes at the top level management with its Kewal Handa taking over as managing director in April, following the resignation of Hocine Sidi said in March.

Pfizer had announced the amalgamation of Pharmacia Healthcare Ltd in February. The amalgamation scheme was operative from December 2003 and the accounts of the company is currently consolidated with Pharmacia Healthcare.

The company posted a net profit of Rs 45.52 crore for the year ended November 30, 2004 where as the same was at Rs 27.51 crore for the year ended November 30, 2003. Total income was Rs 597.02 crore for the year ended November 30, 2004 whereas the same was at Rs 515.16 crore in the financial year 2003.

Pfizer share price was up by 1.73 per cent at Rs 793 on Bombay Stock Exchange on Monday, up 13.50 points from its previous closing of Rs 779.50.