Pfizer Ltd had posted impressive financial performance during the third quarter and nine months ended August 2006. The net profit for the third quarter went up by 28.6 per cent to Rs 28.07 crore from Rs 21.82 crore in the corresponding period of last year. Its net sales increased by 9.7 per cent to Rs 178.45 crore from Rs 162.74 crore. The sales of pharmaceutical segment touched to Rs 163.45 crore from Rs 148.86 crore. The earning per share for the quarter worked out to Rs 9.41 as against Rs 7.31 in the similar period of preceding year.
During the nine months period ended August 2006, its net profit jumped up by 74.8 per cent to Rs 88.73 crore from Rs 50.75 crore, basically due to exceptional items. The company sold its Hyderabad and Ankleshwar property for a consideration of Rs 12.21 crore and Rs 5.75 crore respectively during first nine months. It incurred an expense of Rs 17.52 crore on compensation to employees under VRS. Thus, the net exceptional items (expenses) for the first nine months worked out to Rs 5.69 crore as compared to Rs 17.58 crore in the last period. The profit before interest, depreciation, taxation and exceptional items improved by 34.3 per cent to Rs 148.56 crore from Rs 110.66 crore in the corresponding period of last year.
The company's wholly owned subsidiary Duchem Laboratories Ltd recorded higher net sales of Rs 3.43 crore (Rs 3.12 crore in the previous period) and earned a net profit Rs 0.14 crore as against a net loss of Rs 0.13 crore.