Pfizer, a Rs.1,980 crore multinational pharma giant, has posted strong growth in net profit during the fourth quarter ended March 2018 of 54 per cent to Rs.104.51 crore from Rs.68.04 crore in the similar quarter of last year. Its net sales increased by 14.7 per cent to Rs.519.95 crore from Rs.453.17 crore. The sales were impacted by discontinuation of Corex cough syrup and transition/divesture of certain brands. EPS improved to Rs.22.84 as against Rs.14.87 in the last period.
The board of directors has recommended equity dividend of 200 per cent for the year ended March 2018. Despite strong growth in profits, Pfizer scrip declined by Rs.70 in the morning session to Rs.2,431.55 from its previous day's close of Rs.2,501.40 on BSE.
Pfizer had divested its Thane business as a going concern to Vidhi Research & Development LLP, on slump sale basis and received full advance amount of Rs.178 crore which has been classified as other current liabilities. The impact of the transaction would be reflected upon closure of the transaction.
For the full year ended March 2018, Pfizer's net sales declined by 3 per cent to Rs.1,980 crore from Rs.2,042 crore in the previous year. Its net profit improved marginally by 6.9 per cent to Rs.360.07 crore from Rs.336.78 crore. The company has shown Rs.130.43 crore as exceptional income from sale of properties and income from assignment of trademarks in the previous year. EPS improved to Rs.78.70 as against Rs.73.61 in the previous year.