Pfizer, a leading multinational pharma company, has reported net profit of Rs. 47.63 crore during the second quarter ended June 2013, after spinning off its animal health business into new company namely, Pfizer Animal Pharma Pvt Ltd (PAPPL) from April 2, 2012. The net profit during second quarter ended June 2012 was at Rs. 328.88 crore mainly due to one time gain on sale of animal health business of Rs. 382.52 crore. Its EBDITA 35.3 per cent to Rs. 75.20 crore from Rs. 55.57 crore.
Its net sales increased by 8.1 per cent to Rs. 237.53 crore from Rs. 219.84 crore in the same period of last year. Pfizer continued to provide transitional support to PAPPL including support for manufacture of certain animal health products, consignment selling agent services and other support functions. The company included Rs. 19.30 crore during the quarter under review for sale of such products as against Rs. 2.03 crore in the same period of last year.
The employees cost reached at Rs. 59.92 crore as the company included Rs. 8.93 crore for the quarter ended June 2013 (Rs. 1.42 crore in the same period of last year) to employees under voluntary retirement scheme.
For the full year ended March 2013, Pfizer reported net sales of Rs. 948 crore and its net profit worked out to Rs. 503 crore on account of gain on sale of animal health business.