Wyeth Q2 net down 11 pc at Rs 30.25 crore

NEW DELHI: Drug firm Wyeth Ltd a subsidiary of global pharma major Pfizer Inc today said its net profit declined by 10.89 per cent to Rs 30.25 crore for the quarter ended September 30, 2012 mainly on account of increase in cost of raw materials.

The company had posted a net profit of Rs 33.95 crore for the quarter ended September 30, 2011 Wyeth Ltd said in a filing to BSE.

However net sales of the company rose to Rs 153.52 crore for the quarter under consideration from Rs 148.14 crore for the corresponding period of previous fiscal.

Wyeth Ltd became a subsidiary of Pfizer Inc in India following the merger of Wyeth USA with Wagner Acquisition Corporation, a wholly owned subsidiary of Pfizer Inc in 2009.

Shares of Wyeth Ltd today closed at Rs 912 per scrip on BSE, down 0.63 per cent from its previous close.