Pfizer skids after Q4 PAT slips 2% to Rs 101 crore
In India, the COVID-19 pandemic continued to develop rapidly into 2021, with a significant rise in the number of cases.
Pfizer slipped 1.30% to Rs 5197.70 after the company’s net profit fell 2.4% to Rs 100.55 crore on 6.5% rise in net sales to Rs 534.76 crore in Q4 March 2021 over Q4 March 2020.
Profit before tax jumped 8.4% to Rs 132.09 crore in Q4 FY21 as against Rs 121.90 crore in Q3 FY21.
During the financial year, Pfizer’s net profit fell 2.26% to Rs 497.61 crore on a 4.03% increase in net sales to Rs 2,238.55 crore in FY 2021 over FY 2020. The quarter and year ending March 2020 had prior year tax reversals amounting to Rs 44 crore, thereby resulting in the lower net profit during the period/year when compared with same period last year.
During the current quarter, the company completed the wind down activities for its consumer healthcare business consisting of two brands – Anacin and Anne French. The compensation of Rs 27.5 crore derived based on the fair value of Pfizer Consumer Healthcare Products as determined by the independent valuers along with the incremental wind down cost of Rs 11.6 crore will be received by the company.
In India, the COVID-19 pandemic continued to develop rapidly into 2021, with a significant rise in the number of cases. The current year sales, primarily for hospitals and vaccines businesses, have been impacted due to the pandemic, the company said.
The board of Pfizer has recommended a normal dividend of Rs 30 per equity share and a special dividend of Rs 5 per equity share for the year ended 31 March 2021.
Pfizer is a research-based global biopharmaceutical company which is engaged in the discovery, development and manufacture of healthcare products.
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