Pfizer rides on impressive quarterly numbers

DALAL STREET SPIKES

MNC pharma company, Pfizer gained 5.24 per cent after the company reported an impressive first quarter results.

The stock after touching the day's high of Rs 460, closed at Rs 456.85 with volumes accounting for 7,809 shares at the Bombay Stock Exchange.

The company for the first quarter ended February 29, recorded a net profit of Rs 12.26 crore, a rise of 55.38 per cent compared with Rs 7.89 crore in the same quarter last year.

According to analysts, the result has been impressive with the margins improving to 13.55 per cent from the earlier 10.52 per cent.

As of December 31, 2003, general public held 28.59 per cent while domestic institutions and foreign bodies held 24.90 per cent and 3.07 per cent stake, respectively in the company.

The MNC pharma stocks are gaining importance with domestic pharma companies expected to be adversely impacted with the appreciating rupee, an analysts said.