Mumbai: Pharma major Pfizer Ltd Monday said it has registered net profit of Rs 48.10 crore in the quarter ended March 2012 as against Rs 63.14 crore during the four-month period ended March 2011.
The company's sales stood at Rs 251.73 crore in the quarter ended March 2012 as against Rs 293.17 crore during the four-month period ended March 2011, Pfizer said in its communiqu to BSE here.
For the audited full year, net profit Rs 184.61 crore in the year ended March 2012 as against Rs 226.34 crore during the 16-months period ended March 2011. Sales stood at Rs 1,017.30 crore in the year ended March 2012 as against Rs 1169.56 crore during the 16-month period ended March 2011.
The company said that its pharmaceutical division reported revenue of Rs 216.34 crore in three-month period ended March 2012 as against Rs 251.17 crore in four-month period ended March 2011. The pharma division also contributed profit before tax and interest at Rs 54.09 crore in three-month period as against Rs 67.85 crore in the four-month period ended March 2011.
The company said it has changed its accounting year from December-November to April-March with effect from December 2009. The current quarter was from January to March 2012, while the previous period was from December to March 2011.
The company said it has incorporated a wholly owned subsidiary in February 2012 under the name Pfizer Animal Pharma Pvt Ltd for a temporary period with a view of spin off the animal health business of Pfizer ltd as a pre-step to subsequent sale to a wholly owned subsidiary of Pfizer Inc in India subject to necessary approvals.
The business operation of animal health division was transferred to the wholly owned subsidiary on April 2, 2012 by way of slump sale for a consideration of Rs 440 crore, subject to adjustment for working capital, the company said.
Meanwhile, Pfizer said that Dr Bomi M Gagrat, Non-Executive Director of the company has resigned from the board of directors of the company Monday. The company has appointed Uday Khanna, Sunil Madhok and Vivek Dhariwal as additional directors, it said.
The company's board of directors has recommended a dividend of 125 percent for year ended March 2012.
First Published: Monday, May 21, 2012, 20:04