Pfizer India's profit jumps sevenfold

Pfizer Ltd, the Indian unit of the world's biggest drugmaker, has said its second-quarter profit multiplied more than seven times, boosted by about a 13-fold increase in income from businesses other than selling medicines.

Net income rose to Rs 2.58 billion ($63 million) in the three months ended May 31, from Rs 358.9 million a year earlier, the Mumbai-based company said today in a statement to the Bombay Stock Exchange.

Earnings from businesses other than medicines, described as "other income" in the earnings statement, rose to Rs 2.9 billion from Rs 227.2 million. Aided by other income, revenue more than doubled to Rs 4.56 billion from Rs 1.9 billion.