Pfizer jumps after strong Q2 outcome

Pfizer rose 4.28% to Rs 2,542.80 at 9:58 IST on BSE after net profit surged 3402.3% to Rs 61.64 crore on 6.4% increase in net sales to Rs 506.45 crore in Q2 September 2015 over Q2 September 2014.

The result was announced after market hours yesterday, 9 November 2015.

Meanwhile, the BSE Sensex was down 150.01 points, or 0.57%, to 25,971.39.

On BSE, so far 4,997 shares were traded in the counter, compared with an average volume of 6,941 shares in the past one quarter.

The stock hit a high of Rs 2,600 and a low of Rs 2,517.20 so far during the day. The stock hit a record high of Rs 2,724 on 22 September 2015. The stock hit a 52-week low of Rs 1,638 on 13 November 2014.

The stock had outperformed the market over the past one month till 9 November 2015, falling 0.37% compared with 3.54% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 3.45% as against Sensex's 7.49% decline.

The large-cap company has an equity capital of Rs 45.75 crore. Face value per share is Rs 10.

Pfizer said most key brands of the company have delivered double digit growth.

The company's profit from operations grew 30% at Rs 84.60 crore in Q2 September 2015 over Q2 September 2014. Profit before tax and exceptional items rose 26% to Rs 101 crore in Q2 September 2015 over Q2 September 2014.

Exceptional items reflect proceeds from surrender of unexpired lease hold rights, partly offset by expenses in relation to Thane plant business transfer, the company said.

Pfizer is biopharmaceutical company.

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