Wyeth Ltd, a Mumbai based MNC company, has failed to improve its bottom line during the third quarter ended December 2007 despite higher other income. The company's net profit declined by 24.3 per cent to Rs 17.54 crore from Rs 23.16 crore in the corresponding period of last year. Its net sales improved by 17.6 per cent to Rs 83.32 crore from RS 70.83 crore. With fall in profits, its earning per share nosedived to Rs 7.72 from Rs 10.19 in the last period.

For the nine months period ended December 2007, the company's net profit declined by 12.4 per cent to Rs 69.32 crore from Rs79.11 crore in the similar period of last year. The net sales, however, improved by 12. 9 per cent to Rs 257.32 crore from Rs 227.86 crore. Other income during the first nine months went up to Rs 15.03 crore from Rs 9.17 crore. Its pharmaceutical sales increased by 14.4 per cent to Rs 231.57 crore from RS 202.35 crore.

Meanwhile, the company is facing a demand from Government of Rs 12.20 crore and an interest of Rs 31.87 crore up to December 2007. The total demand stood at Rs 59.07 crore. Further, it has also disputed its liability regarding a demand of Rs 16.66 crore towards the alleged non compliance of the Order issued under paragraph 8 of DPCO 1995 in respect of the production of Prednisolone based formulations in earlier year.