Pfizer declined 1.18% to Rs 4030 after net profit fell 5.9% to Rs 103.01 crore on 6.3% decline in net sales to Rs 502 crore in Q4 March 2020 over Q4 March 2019.
Profit before tax fell 27.5% to Rs 121.90 crore in Q4 March 2020 over Q4 March 2019. Total tax expense fell 67.8% to Rs 18.89 crore in Q4 March 2020 over Q4 March 2019. During the current quarter, the company has reversed Rs 44.5 crore pertaining prior years' income tax provisions.Pfizer said current quarter sales have been impacted by divesture of rights and interests in certain brands & COVID-19. Adjusting for the above, the growth for the quarter ended 31 March 2020 would have been 3.5%.
Pfizer also added that there has been no significant adverse operational impact on its supply chain during March 2020 due to the nationwide lockdown imposed by the Government in view of COVID-19. The company said it is currently unable to predict any future impact on its business operations. The company will continue to ensure supply of essential medicines and take steps to mitigate any risks associated with COVID-19 pandemic.
The company declared a final dividend of Rs 10 per equity share.
Pfizer is a research-based global biopharmaceutical company which is engaged in the discovery, development and manufacture of healthcare products.
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