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On its better hospitals and vaccine performances, Pfizer Ltd.’s Q3 FY21 sales grew 10.3% YoY to Rs 5.9 billion.
Its gross margin expanded 149 basis points YoY to 64.2%, while the Ebitda margin expanded 836 basis points YoY to 33.2% on account of lower promotional costs.
Lower other income and a higher tax rate reduced adjusted profit after tax growth to 19.8% (Rs 1.4 billion).
We expect sales growth of key brands (Gelusil, Prevenar-13, Becosules, Magnex, Dolonex and Meronem) to accelerate in FY22.
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