Pfizer India achieved good performance during the first quarter ended February 2006 and its net profit went up sharply by 84 per cent to Rs 24.77 crore from Rs 13.46 crore in the corresponding period of last year. The company's net sales increased by 9.8 per cent to Rs 145.98 crore from Rs 132.93 crore.

Its other income has taken a jump of 38 per cent during the first quarter to Rs 12.06 crore from Rs 8.74 core in the last period due to sales of assets. The company has executed the Deed of Assignment for the transfer of leasehold land and building and also concluded the sale of other assets at Ankleshwar plant for the total consideration of Rs 5.75 crore.

The Operating profit before interest, depreciation and taxation moved up by 51 per cent to Rs 47.6 crore from Rs 31.39 crore in the last period. Extra-ordinary expenditure worked out to Rs 5.84 crore which includes mainly the VRS payment. After considering the extra-ordinary items the earning per share worked out to Rs 8.3 for the quarter ended February 2006 as against Rs 4.51 in the similar period of last period.

Pfizer's subsidiary Duchem Laboratories Ltd turned the corner and earned a small net profit of Rs 3 lakhs in the quarter under review as against a loss of Rs 31 lakh in the last period. Duchem recorded net sales of Rs 119 lakh as against Rs 93 lakh.