Pfizer India Q1 net jumps 84 per cent

The bottom line of Pfizer India, a subsidiary of global pharma major Pfizer, rose 84.03 per cent for the first quarter ended 28 February 2006 as compared to the same quarter of previous year. The company has reported a net profit of Rs24.77 crore or Rs8.3 per share as against Rs13.46 crore or Rs4.51 per share.

Total revenues for the quarter have increased by 11.56 per cent to Rs158.04 crore as compared to Rs141.67 crore for the previous year quarter.

When compared to the previous quarter ended November 2005, net profits for the quarter increased by 42.6 per cent even as total revenues declined by more than 12 per cent.

During the quarter the company incurred Rs5.84 crore towards amortisation of VRS expenses.

There is a significant improvement in operating margins for the quarter. Operating profits, excluding other income but including service income, as a percentage of net sales increased to 28 per cent as compared to 20.1 per cent for the same quarter of previous year. Operating margins were 16.45 per cent for the previous quarter ended November 2005.

Both pharma and animal health divisions reported near identical growth rates of over 9 per cent for the quarter as compared to the previous year quarter. Service income increased by more than 50 per cent from Rs4.91 crore to Rs7.44 crore.