 "Pfizer Q1 net down 85% to Rs 47.63 cr")
Pfizer Ltd today reported 85.51% decline in the standalone net profit at Rs 47.63 crore for the first quarter ended June 30, 2013 largely on account of income from exceptional item in the same period last year.
The company had spun off its animal health business on April 2, 2012 to Pfizer Animal Pharma Pvt Ltd (PAPPL) for Rs 382.52 crore.
The company reported net profit of Rs 328.88 crore in the corresponding quarter last year.
Pfizer's net sales went up by 8.04% to Rs 237.53 crore in the quarter under review as against Rs 219.84 crore in the same quarter a year ago, the company said in a BSE filing.
"The gain arising on the slump sale of the said business was disclosed as exceptional items during the sales quarter ended June 30, 2012," the company said in a statement.
Pfizer's overall expenses were at Rs 223.46 crore in the quarter, an increase 4.25% compared with Rs 214.35 crore in the same period last year.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%