Pfizer Ltd, a leading MNC in India and part of the world pharma company of US, has achieved net profit growth of 14.1 per cent during the first quarter ended February 2007 to Rs 28.27 crore from Rs 24.77 crore in the corresponding period of last year. The company's net sales during the quarter increased by 6.2 per cent to Rs 155 crore from Rs 145.98 crore. The earning per share worked out to Rs 9.47 as against Rs 8.3 per cent in the last period.

The operating profit before interest, depreciation, taxation and extra ordinary items improved marginally by 3.7 per cent to Rs 49.38 crore from Rs 47.6 crore. Extra ordinary items, related to compensation paid to employees under VRS, worked out to Rs 2.6 crore during the first quarter of 2007 as compared to Rs 5.82 crore in the previous period.

The company's wholly owned subsidiary, Duchem Laboratories has made net profit of Rs 0.28 crore for the three months ended February 2007 as compared to Rs 0.03 crore in the last period. Duchem's net sales declined to Rs 1 crore from Rs 1.19 crore.

Pfizer's promoters decided for the global divesture of the Consumer Healthcare business in June 2006 to Johnson & Johnson. Consequently, the global closure was fixed on December 20, 2006 except for few markets like India where divesture of the aforesaid business is delayed. The Board of Directors of Pfizer are evaluating the various options available for smooth restructuring of the said business.

The company sold its Chandigarh property comprising of land, buildings, movable plant and machineries and other assets for a total consideration of Rs 27.80 crore to CSJ Infrastructure Pvt Ltd on March 16, 2007. The profit on sale of these assets will be accounted in quarter ending May 31, 2007.