Pfizer Q2 results: Net profit down 52% at ₹149 crore, revenue slips 9.8%
Pfizer on October 28 reported a net profit of ₹149 crore in the second quarter of fiscal year 2023-24 (Q2FY24), which was 52.1 percent lower as against ₹311.1 crore reported in the year-ago period. Sequentially, the net profit in the September 2023 quarter was up by 60 percent as it stood at ₹93.5 crore in the April-June period. The company's revenue from operations during Q2FY24 came in at ₹575.2 crore, down 9.8 percent from ₹637.5 crore reported in the corresponding period of the last fiscal.
The revenue, however, grew by 7 percent on-quarter as it stood at ₹531 crore in Q1FY24. Exciting news! Mint is now on WhatsApp Channels. Subscribe today by clicking the link and stay updated with the latest financial insights! Click here! The earnings before interest, taxes, depreciation and amortisation (EBITDTA) came in at ₹182.5 crore in Q2FY24, which is 21.3 percent lower as against ₹231.8 crore reported in the year-ago period.
The margin dropped to 31.7 percent as compared to 36.4 percent in the September 2022 quarter. Pfizer's earnings per share also slipped, as it almost halved to ₹32.56 from ₹67.99 in the year-ago period. However, it grew sequentially as the earnings per share in the June 2023 quarter stood at ₹20.44.
Notably, Pfizer had approved a final dividend of ₹35 per equity share of ₹10 each, along with a special dividend of ₹5 per share in the annual general meeting held on August 18. “The said dividend was paid on September 15, 2023," the company noted in its regulatory filing. In the last trading session on October 27, the shares of Pfizer settled at ₹3,944 apiece on the BSE, up by 0.29 percent as against the previous day's close."Exciting news! Mint is now on WhatsApp Channels
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