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Pfizer net rises 14%

Our Bureau

MUMBAI, Sept. 26

PFIZER Ltd has posted a 14 per cent increase in net profit at Rs 14.70 crore in the quarter ended August 31, 2001 as against Rs 12.90 crore in the same period the previous year.

According to analysts, the sustained growth performance has been due to the company's marketing efforts as opposed to other multinational companies' performance. Other income has also contributed considerably to the increase in profitability, they said.

Net sales stood at Rs 92.79 crore (Rs 89.11 crore). Other income increased to Rs 15.42 crore (Rs 13.20 crore), which includes service income of Rs 11.85 crore (Rs 11.15 crore).

During the nine months ended August 31, 2001, the company has registered a 25 per cent increase in net profit at Rs 36.10 crore as against Rs 28.79 crore in the previous year period.

Net sales for the period stood at Rs 261.11 crore (Rs 234.79 crore), while other income rose to Rs 43.55 crore (Rs 36.52 crore).

The earnings per share was at Rs 15.40 (Rs 12.28).

Net sales of the wholly-owned subsidiary Duchem Laboratories Ltd for the quarter ended Aug 31, 2001 were Rs 36.53 crore (Rs 30.87 crore). Hence, the total sales of Pfizer including Duchem Laboratories during the quarter ended August 31, 2001 increased to Rs 129.32 crore (Rs 119.98 crore).