Pfizer, a leading MNC in India, pushed its net profit by 132 per cent in the second quarter ended May 2006 to Rs 35.89 crore from Rs 15.47 crore in the corresponding period of last year. Its net sales increased by 23.8 per cent to Rs 167.07 crore from Rs 134.96 crore. The earning per share for the quarter worked out to Rs 12.03 as against Rs 5.18 in the last period.
During the quarter ended May 2006, Pfizer has executed the sale deed for the transfer of its Hyderabad property consisting of freehold land and building for the total consideration of Rs 12.21 crore. The profit on sale amounting to Rs 11.81 crore has been recognized in the current quarter ended May 31, 2006 and included under the head 'exceptional item'. Its extraordinary income reached at Rs 5.97 crore during the quarter.
The profit before extraordinary income improved by 40.4 per cent to Rs 29.92 crore from Rs 21.31 crore in the similar period of last year.