Pfizer's net profit for the third quarter ended December 2012 increased by 32.3 per cent to Rs.63.88 crore from Rs.48.28 crore mainly due to gain on sale of animal healthcare division of Rs.31.94 crore. Its profit before exceptional items declined by 11.4 per cent to Rs.64.26 crore from Rs.72.48 crore. The company's EBDITA also moved down by 11.7 per cent to Rs.66.52 crore from Rs.75.34 crore.
Its net sales declined by 8.8 per cent to Rs.229.78 crore from Rs.251.88 crore as the company divest its animal healthcare business into a new subsidiary called Pfizer Animal Pharma Pvt ltd for a temporary period with a view to spin off the division. The business operations of this division was transferred to the subsidiary from April 2, 2012 by way of slump sale for a consideration of Rs.424.28 crore. The gain of Rs.383.52 was disclosed as exceptional income during the quarter ended June 2012.
The net profit for the nine months period ended December 2012 went up sharply to Rs.445.04 crore due to gain on sale of animal health business of Rs.382.52 crore and gain on sale of investment of Rs.31.60 crore. Its tax provision increased to Rs.164.60 crore from Rs.68.43 crore in the similar period for last year. However, its EBDITA declined by 2.7 per cent to Rs.208.17 crore from Rs.214.03 crore. The company's net sales moved down by 9.1 per cent basically due to sell of animal health business to Rs.695.77 crore from Rs.765.57 crore, but its other operating income increased by 31.8 per cent to Rs.72.54 crore from Rs.55.06 crore.