Pfizer Limited revenue from operations for the quarter and year ended March 31, 2021 at ₹535 crore and ₹2,239 crore respectively

Pfizer Limited announced its Audited results for the quarter and year ended March 31, 2021.

Revenues

Revenue from operations for the quarter ended March 31, 2021 stood at ₹535 crore as compared to ₹502 crore in the same period last year, a growth of 6.5%.

Revenue from operations for the year ended March 31, 2021 is ₹2,239 crore as compared to ₹2,152 crore in the same period last year, showing a 4% growth.

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 has monitored the impact of COVID-19 on all aspects of its business. The management has exercised due care, in concluding significant accounting judgements and estimates, recoverability of receivables, assessment for impairment of goodwill, intangible assets, inventory based on the information available as on date, while preparing the financial results as of and for the year ended March 31, 2021.

While business-critical functions continued to be fully operational to ensure there are no interruptions in the delivery of our medicines to the hospitals and patients, rest of the colleagues worked from home. Several measures have been put in place for communications, technology and productivity improvements to help employees cope with this change.

Consumer Healthcare business

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 ₹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 ₹11.6 crore will be received by the Company.

Profits before other income and tax

Profit from operations (before other income and tax) for the quarter ended March 31, 2021 registered a growth of 23% to ₹98 crore as against ₹80 crore in the same period last year.

Profit from operations (before other income and tax) for the year ended March 31, 2021 registered a growth of 28% to ₹603 crore as against ₹469 crore in the same period last year.

Net profit for the year

Net Profit after tax for the quarter ended March 31, 2021 is ₹100 crore as against ₹103 crore in the same period last year

Net Profit after tax for the year ended March 31, 2021 is ₹497 crore as against ₹509 crore in the same period last year

Quarter and Year ending March 2020 had Prior year tax reversals ₹44 crore, thereby resulting in the lower net profit during the period / year when compared with same period last year

Dividend

The Board of Directors of the Company has recommended a normal dividend of Rs. 30/- per equity share of Rs. 10/- each (300%) and a special dividend of Rs. 5/- per equity share of Rs. 10/- each (50%), aggregating to total dividend of Rs. 35/- per equity share of Rs. 10/- each (350%) for the year ended March 31, 2021.

Shares of PFIZER LTD. was last trading in BSE at Rs.5266.15 as compared to the previous close of Rs. 5251.65. The total number of shares traded during the day was 4222 in over 757 trades.

The stock hit an intraday high of Rs. 5355 and intraday low of 5250. The net turnover during the day was Rs. 22303271.

Source : Equity Bulls

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