Pfizer Falls on Weak Fourth Quarter Numbers

Pfizer Falls on Weak Fourth Quarter Numbers
Shares of pharmaceutical company Pfizer Ltd fell over 6 per cent to Rs 2,107.85 after the company posted weak set of fourth quarter numbers post the market hours yesterday.

Pfizer's net profit fell 24 per cent to Rs 42.7 crore from Rs 56 crore during the same period last year. Total income of the company jumped 68.7 per cent to Rs 463 crore from Rs 274 crore during the same quarter last year.

Pfizer in a press release said that its net profit was impacted due to lower bank interest income and higher expenses. The profitability also got dented because of depreciation and amortization.

As of 10:40 a.m, shares of Pfizer fell 4.75 per cent to Rs 2,139. As many as 6,084 crore shares changed hands on the Bombay Stock Exchange compare to average of 3,651 shares traded daily in the past two weeks.