Pfizer's India unit posts 3% rise in Q4 profit

Abbott India

15/05/2023 15:39

BENGALURU, May 15 (Reuters) - Pfizer Ltd  PFIZ.NS , the Indian unit of U.S.
pharmaceutical group Pfizer Inc  PFE.N , 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.
    For further earnings highlights, click:  urn:newsml:reuters.com:*:nFWN37C0WS
    
    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  CIPL.NS  posted a 45.2% increase in fourth-quarter profit, while
Novartis India Ltd  NOIN.NS  reported a quarterly profit compared with a loss a year ago. 
    Abbott India Ltd  ABOT.NS  and GlaxoSmithKline Pharmaceuticals Ltd  GLAX.NS  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                                           Buy                            
 Cipla Ltd                                                                           
 Abbott India                                                                        
 GlaxoSmithKl                                                                        
 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    

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Pfizer Ltd shares vs peers    https://tmsnrt.rs/4520WtC
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 (Reporting by Rama Venkat in Bengaluru; Editing by Varun H K)
 ((ramavenkat.raman@thomsonreuters.com; https://twitter.com/ramavenkat0607; +91 8095218099;))