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Pfizer share surges 3% on strong Q4 performance

The surge came after the company announced its fourth quarter results of financial year 2024 (Q4FY24) results

Pharmaceutical company Pfizer

Pharmaceutical company Pfizer

SI Reporter New Delhi

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Pfizer stock surges: Pharmaceutical company Pfizer shares rose as much as 3.03 per cent to hit an intraday high of Rs 4,537.15 per share, on Saturday.

The surge came after the company announced its fourth quarter results of financial year 2024 (Q4FY24) results.

Pfizer’s profit rose 38 per cent annually to Rs 179 crore in Q4FY24, from Rs 130 crore in Q4FY23.

Revenue, however, fell 4.5 per cent to Rs 546.6 crore in fourth quarter of financial year 2024, from Rs 572.6 crore in the same quarter previous fiscal year.

Pfizer’s earnings before interest, taxes, depreciation and amortisation (Ebitda), also known as operating profit, rose over 4 per cent to Rs 189.4 crore, from Rs 181.8 crore a year ago. The company’s Ebitda margin, meanwhile, rose to 34.7 per cent in Q4FY24, from 31.8 per cent in Q4FY23.

The Board of Directors have recommended a dividend of Rs 35 per equity share of Rs 10 each for the financial year ended March 31, 2024. The dividend, if declared at the ensuing Annual General Meeting of the company, shall be paid on or before September 6, 2024.

Pfizer is Mumbai-based pharmaceutical giant, which provides medicines across therapeutic areas like gynaecology, orthopaedics, urology, oncology, respiratory, cardiovascular, gastrointestinal, internal medicine, inflammation, and immunology.

The market capitalisation of Pfizer is Rs 20,509.17 crore, according to Bombay Stock Exchange (BSE).

The 52-week high of the stock is Rs 4,537.15 while its 52-week low is Rs 4,468.45. At 9:47 AM, shares of Pfizer were trading 1.79 per cent higher at Rs 4,482.50 per share. By comparison, S&P BSE Sensex was trading 0.16 per cent at 74,034.57 levels.

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First Published: May 18 2024 | 10:07 AM IST

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