BENGALURU (Reuters) – Pfizer Ltd, the Indian unit of U.S. pharmaceutical group Pfizer Inc, on Monday reported a 3.1% rise in fourth-quarter profit, helped by lower raw material expenses.
Net profit for the quarter ended March 31 rose to 1.30 billion rupees ($15.90 million) from 1.26 billion rupees a year ago, while revenue rose 4.2%.
Pfizer also declared a final dividend of 35 rupees per share and a special dividend of 5 rupees per share.
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WHY IT MATTERS
Pfizer’s pharmaceutical segment has a portfolio of over 150 products. Separately, parent Pfizer Inc reported higher-than-expected first-quarter revenue and profit, helped by demand for its COVID-19 products.
In India, rival Cipla Ltd posted a 45.2% increase in fourth-quarter profit, while Novartis India Ltd reported a quarterly profit compared with a loss a year ago.
Abbott India Ltd and GlaxoSmithKline Pharmaceuticals Ltd are scheduled to report its quarterly results later this week.
COMPETITOR COMPARISON
Valuation Estimates (next Analysts’ sentiment
(next 12 12 months)
months)
RIC PE EV/EBI Revenue Profit Mean # of Stock to Div
TDA growth growth rating* analysts price yield
target** (%)
Pfizer Ltd 27.25 17.83 7.69 2.98 Strong 6 0.78 0.93
Buy
Cipla Ltd 20.48 12.14 10.39 16.69 Buy 40 0.86 0.53
Abbott India 40.76 28.67 11.68 15.11 Buy 9 1.00 0.68
Ltd
GlaxoSmithKl 30.63 22.69 5.40 1.98 Buy 7 0.94 2.35
ine
Pharmaceutic
als Ltd
* The mean of analyst ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell
** The ratio of the stock’s last close to analysts’ mean price target; a ratio above 1 means the stock is trading above the PT
JAN-MARCH STOCK PERFORMANCE
— All data from Refinitiv
— $1 = 81.7800 Indian rupees
(Reporting by Rama Venkat in Bengaluru; Editing by Varun H K)
