Revenue from operations fell by 10% to Rs 531.36 crore during the quarter as compared with the same period last year.

Total expenses rose by 2% to Rs 439.07 crore in Q1 FY24 over Q1 FY23, due to higher employee expenses (up 1% YoY) and higher other expenses (up 20% YoY).

The company had recorded a charge of Rs 129.85 crore on account of Voluntary Retirement Scheme (VRS) and an additional charge of Rs 6.48 crore (net) on account of restructuring to drive business transformation during the quarter ended 30 June 2022.

Profit before tax in Q1 FY24 stood at Rs 125.75 crore, up by 190% from Rs 43.39 crore in Q1 FY23.

Pfizer is a major drug manufacturing company that focuses on a global portfolio of medical products. The company works across developed and emerging markets to advance treatments through its to segments, Pfizer Innovative Health and Pfizer Essential Health. The vast majority of the company's revenue is derived from the manufacture and sale of biopharmaceutical products. Most of the company's sales are generated by its Innovative Health segment.

Shares of Pfizer were currently trading 3.27% lower, at Rs 3832.45 on the BSE.