Indian unit of Pfizer reports 3 percent rise in Q4 profit
Separately, parent Pfizer Inc reported higher-than-expected first-quarter revenue and profit, helped by demand for its COVID-19 products.
Bengaluru: Pfizer Ltd, the Indian unit of US pharmaceutical group Pfizer Inc, on Monday reported a 3.1 per cent rise in fourth-quarter profit, helped by lower raw material expenses.
Net profit for the quarter ended March 31 rose to 1.30 billion rupees ($15.90 million) from 1.26 billion rupees a year ago, while revenue rose 4.2 per cent.
Pfizer also declared a final dividend of 35 rupees per share and a special dividend of 5 rupees per share.
WHY IT MATTERS
Pfizer's pharmaceutical segment has a portfolio of over 150 products. Separately, parent Pfizer Inc reported higher-than-expected first-quarter revenue and profit, helped by demand for its COVID-19 products.
In India, rival Cipla Ltd posted a 45.2 per cent increase in fourth-quarter profit, while Novartis India Ltd reported a quarterly profit compared with a loss a year ago.
Abbott India Ltd and GlaxoSmithKline Pharmaceuticals Ltd are scheduled to report its quarterly results later this week.
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