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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, due mainly to an 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 rose to Rs 153.52 crore for the quarter under consideration from Rs 148.14 crore for the corresponding period of the 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.
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