Pfizer Ltd has posted a net profit of Rs. 193 crore during the first quarter ended November 2008 as against Rs. 28.27 crore during the corresponding period of last year basically due to transfer of exclusive license in respect of trademarks relating to Benadryl, Caladryl, Benylin and Listerine and certain assets to Johnson & Johnson Ltd for a net consideration of Rs. 210.95 crore. The company's net sales declined by 3 per cent to Rs. 150.37 crore from Rs. 155 crore in the corresponding period of last year. The figures are not strictly comparable due to transfer of certain assets to J&J.
Pfizer's profit before exceptional items and taxation improved by 6.4 per cent to Rs. 49.67 crore from Rs. 46.67 crore in the similar period of last year. Its operating and other income increased to Rs. 18.10 crore from Rs. 11.97 crore.
The revenues of pharmaceutical segment declined to Rs. 130.39 crore from Rs. 138.28 crore, a fall of 5.7 per cent and that of animal health improved to Rs. 20.06 crore from Rs. 16.86 crore in the corresponding period of last year.
The net sales of the wholly owned subsidiary, Duchem Laboratories for the three months ended February 2008, increased to Rs. 111 lakh from Rs. 100 lakh and it earned a net profit of Rs 33 lakh as against Rs. 28 lakh in the last period.