Pfizer posts Rs 76cr net profit in 2002

Pfizer Ltd has posted a consolidated net profit of Rs 75.94 crore for the year ended November 30, 2002 as compared to Rs 47.49 crore last year. Total Income increased to Rs 602.5 crore from Rs 359.14 crore last year.

The board of Pfizer Ltd has recommended a dividend of 75 per cent, that is, Rs 7.50 per share which includes a one time special dividend of Rs 2.50 per share (25 per cent) consequent to exceptional income received relating to termination of Trademark License of Dumex & Protinex. This proposed dividend includes the dividend to be paid on pari passu basis on the equity shares to be allotted to those shareholders of Parke Davis whose names appear of the Register of Members on the Record date, that is, March 14, 2003, the BSE notice said.

The scheme of amalgamation of Parke-Davis (India) Limited with Pfizer Limited is approved by the Mumbai High Court by its Order passed on February 7, 2003. As a result, the audited figures for the year ended November 30, 2002 includes the figures of the erstwhile Parke-Davis (India) Limited and are not comparable with the corresponding period, the notice said.