Pfizer India Q1 Profit Declines 83% To Rs 33 Crore, Revenue Falls 21%

Drug firm Pfizer on Friday reported 83 per cent decline in consolidated net profit at Rs 33 crore for June quarter 2022-23, according to a PTI report. The company had logged a net profit of Rs 200 crore in April-June period a year ago.

Revenue from operations declined to Rs 593 crore in the quarter from Rs 749 crore in the year-ago period. The drug firm said exceptional items for June quarter comprised Rs 130 crore on account of a voluntary retirement scheme and Rs 6 crore for restructuring to drive business transformation.

Shares of the company settled at Rs 4,230 apiece, down 0.72 per cent, on the BSE.
Pfizer was listed on the Bombay Stock Exchange in 1966. Today it has more than one lakh shareholders in India. With annual sales of over Rs 2000 crores, it is the fourth largest multinational pharmaceuticals company in India. The company has a portfolio of more than 150 products across 15 therapeutic areas.