Pfizer may open lower as Q2 revenue, profit take a hit

Pfizer’s shares may open lower on October 30 after the pharma company reported a 52.1 percent year-on-year decline in profit at Rs 149 crore for the September quarter. The fall came on the back of high base in year-ago period and lower topline.

Revenue declined 9.8 percent year-on-year to Rs 575.2 crore, Pfizer said.

Pfizer’s earnings per share fell to Rs 32.56 from Rs 67.99 from the year-ago period, however, the EPS was up from Rs 20.44 in the April-June quarter.

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The company’s shareholders approved a final dividend of Rs 35 a share, with a special dividend of Rs 5 for the previous fiscal year. The dividend was paid on September 15, 2023.

Price movement, shareholding pattern

Pfizer boasts of a market capitalisation of Rs 18,008.8 crore. Over the past six months, the stock has gained 4.55 percent almost in sync with the benchmark Nifty’s 4.96 percent.

The counter sees very low volatility, as indicated by its one-year beta of 0.29. The scrip’s Relative Strength Index (RSI) is mid-range at 51, as the stock is neither overbought nor oversold.

Promoter shareholding stayed the same in the September quarter at 63.92 percent. Foreign institutional investors and domestic institutional investors own 2.8 percent and 15 percent in the company.

Of the DIIs, mutual funds own 7.39 percent, increasing their holdings from 6.17 percent in the previous quarter. The public owns 18.2 percent.

On October 27, Pfizer closed flat at Rs 3,940.15 apiece on the BSE.