Mumbai: Pfizer Ltd, the Indian listed subsidiary of the world’s largest drugmaker Pfizer Inc, on Monday declared a net profit of Rs39.01 crore in its first quarter ended 28 February 2009.
The company follows a November-October fiscal year, in line with its global parent firm.
Its first quarter profit, however, is not comparable with the corresponding period last year because of an extraordinary income of about Rs214 crore at that time. The extraordinary item was from the sale of Pfizer Ltd’s consumer healthcare business to Johnson and Johnson India Ltd.
A 23% increase in sales to Rs190.2 crore in the just concluded quarter, and a marginal decrease in expenditure were cited as reasons for the increase in net profit in the just concluded quarter. Pfizer’s net sales for the quarter ending February in 2008 was Rs150.3 crore.