Pfizer Q1 net profit up 23% at Rs 113 crore

Pfizer on August 9 reported 22.83 percent increase in net profit at Rs 112.81 crore for the quarter ended June 30, 2019.

The company had posted a profit of Rs 91.84 crore in the same quarter last fiscal, Pfizer said in a regulatory filing.

Total income during the quarter under review stood at Rs 580.23 crore as against Rs 542.84 crore in the corresponding quarter last fiscal, it added.

Total expenses during the first quarter were marginally higher at Rs 405.32 crore as compared to 400.65 crore in the year-ago period, it added.

Pfizer said it has received approval from Maharashtra Industrial Development Corporation (MIDC) in July for transfer of its business undertaking at Thane, including land, plant, machinery and employees except for a certain portion of land, following sale to Vidhi Research & Development LLP.

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