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Impressive performance from Pfizer. - Views on News from Equitymaster
A 23% growth in the topline has led to a more than doubling of the bottomline with the net margin improving to 10.8%. However, last year the company had provided for Rs.97.3 million as VRS which was included in the total expenditure. If this is taken into account the net profit has grown by 50% plus.
(Rs m)
FY1999
FY1998
Change
Sales
2,873.3
2,334.3
23.1%
Other Income
505.2
374.4
34.9%
Expenditure
2,774.0
2,402.2
15.5%
Interest
5.4
21.1
-74.4%
Depreciation
76.8
96.7
-20.6%
Profit before Tax
522.3
188.7
176.8%
Tax
213.0
62.9
238.6%
Profit after Tax/(Loss)
309.3
125.8
145.9%
Net profit margin (%)
10.8%
5.4%
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