The Hindu Business Line : Lower expenses, higher interest income lift Pfizer Q4 net 30%

Mumbai, Feb. 25 Improved control on expenses and higher interest income contributed to Pfizer Ltd’s 30 per cent growth in net profit for the three months ended November 30, 2007.

The company clocked a net profit of Rs 22.06 crore for the quarter under review compared with Rs 17 crore in the same period of the previous year. Total income increased to Rs 199.66 crore (Rs 182.90 crore).

The company posted a net profit of Rs 338.93 crore for the year ended November 30, 2007 against Rs 105.73 crore for the year ended November 30, 2006. Total income rose to Rs 1015.36 crore (Rs 721.88 crore).

The company said that its operating and other income includes service income for the three months ended November 2007 of Rs 5.79 crore (Rs 5.60 crore) and Rs 21.26 crore for the full year (Rs 26.12 crore).

The profit on sale of its Chandigarh property amounting to Rs 273.69 crore had been recognised in the quarter ended May 31, 2007, under operating and other income, the company added.

During the previous year ended November 2006, profit on sale of Hyderabad property amounting to Rs 11.81 crore was recognised in the quarter ended May 31, 2006, the company said.

The group posted a consolidated net profit of Rs 340 crore (Rs 106.33 crore) for the year ended November 30, 2007.

Total income has increased to Rs 1,019.76 crore (Rs 726.39 crore).

To pay 275%

Pfizer Ltd has recommended a total dividend of Rs 27.50 (275 per cent) per equity share of Rs 10 each, for the financial year ended November 30, 2007, being normal dividend of Rs 12.50 (125 per cent) per share and additional dividend of Rs 15 (150 per cent) per equity share, following the sale of four consumer healthcare brands to Johnson & Johnson Ltd, the company said.

Pfizer’s shares closed marginally up at Rs 636.40 on the BSE.