BENGALURU, May 15 Reuters Pfizer Ltd, the Indian unit of U.S. pharmaceutical group Pfizer Inc, on Monday reported a 3.1 rise in fourthquarter profit, helped by lower raw material expenses.

Net profit for the quarter ended March 31 rose to 1.30 billion rupees 15.90 million from 1.26 billion rupees a year ago, while revenue rose 4.2.

Pfizer also declared a final dividend of 35 rupees per share and a special dividend of 5 rupees per share.

WHY IT MATTERS

Pfizer39;s pharmaceutical segment has a portfolio of over 150 products. Separately, parent Pfizer Inc reported higherthanexpected firstquarter revenue and profit, helped by demand for its COVID19 products.

In India, rival Cipla Ltd posted a 45.2 increase in fourthquarter profit, while Novartis India Ltd reported a quarterly profit compared with a loss a year ago.

Abbott India Ltd and GlaxoSmithKline Pharmaceuticals Ltd are scheduled to report its quarterly results later this week.

 The mean of analyst ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell

The ratio of the stock39;s last close to analysts39; mean price target; a ratio above 1 means the stock is trading above the PT

JANMARCH STOCK PERFORMANCE

All data from Refinitiv

1 81.7800 Indian rupees

Reporting by Rama Venkat in Bengaluru; Editing by Varun H K

Source Reuters