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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.
