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Pfizer FY20 results: Profit rises 19% to Rs 509 crore, revenue drops 4%

In Q4 FY20, Pfizer posted 5.9 per cent decline in net profit at Rs 103 crore compared to Rs 109.5 crore in the corresponding period last year

Chitranjan Kumar | June 15, 2020 | Updated 18:13 IST
Pfizer FY20 results: Profit rises 19% to Rs 509 crore, revenue drops 4%
Pfizer's board has recommended a final dividend of Rs 10 per equity share for FY20

Drug major Pfizer closed financial year 2019-20 with a 18.66 per cent growth in its net profit at Rs 509.13 crore, as compared to Rs 429.05 crore in the previous fiscal. The total revenue of the pharmaceutical company fell by 3.85 per cent to Rs 2,335.67 crore as against Rs 2,248.89 crore in the previous financial year 2018-19.

For the quarter ended March 31, 2020 (Q4 FY20), Pfizer posted 5.9 per cent decline in net profit at Rs 103 crore, compared to Rs 109.5 crore in the corresponding period last year. Revenue from operations declined by 6.3 per cent year-on-year to Rs 502 crore during the March quarter of last fiscal.

The company's Earnings before Interest, Tax, Depreciation and Amortisation (EBITDA) dropped by 28 per cent YoY to Rs 108.7 crore, while EBITDA margin fell by 660 basis points (bps) to 21.6 per cent in Q4 FY20.

During the year under review, the company divested rights and interests in two brands for a consideration of Rs 37 crore.

On COVID-19 crisis, Pfizer said the pandemic has emerged as an unprecedented challenge globally and to the pharmaceutical companies in particular, who have a responsibility towards public health. There has been no significant adverse operational impact on the company's supply chain during March 2020 due to the nationwide lockdown imposed by the Government of India in view of COVID-19, it added.

"In view of the continued uncertainties and its inability to predict the extend and duration of COVID-19 situation, the company currently is unable to predict any future impact on its business operations," Pfizer said.

The company further stated that it will continue to ensure supply of essential medicines and take steps to mitigate any risks associated with coronavirus pandemic.

Pfizer's board has recommended a final dividend of Rs 10 per equity share of Rs 10 each (100 per cent) for the financial year ended March 31, 2020. The dividend, if approved at the ensuing General Meeting of the company, will be paid on or before September 30, 2020.

Meanwhile, shares of Pfizer closed Monday's trade at Rs 4078.15, up 0.41 per cent, against previous closing price of Rs 4,061.55 on the Bombay Stock Exchange.

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