MUMBAI, June 27: Pfizer has recommended a dividend of 40 per cent for the year ended March 1997. The net sales during the year amounted to Rs 262.90 crore (Rs 252.60 crore) and other income at Rs 20.98 crore against Rs 5.87 crore.

The other income for the year includes, profit on fixed assets sold/discarded Rs 544.44 lakh (including profit on sale of Kalyani Plant Rs 755.05 lakh), write-off of written down value of assest Rs 172.46 lakh as a consequence of restructing and insurance claims recovery due to fire losses Rs 31.45 lakh.

The company has earned higher gross profit of Rs 34.16 crore against Rs 22.17 crore. After providing for depreciation of Rs 4.37 crore (Rs 3.62 crore) and taxation of Rs 11.26 crore (Rs 7.85 crore), the net profit amounted to Rs 18.53 crore against Rs 10.70 crore last year.

Compensation under voluntary retirement scheme is being amortised for a period of three years. The expenditure for the year amounting to Rs 685.62 lakh (Rs 333.89 lakh) consist of amortisation of preious year's deferred revenue expenditure of Rs 333.90 lakh and 1/3rd of the total expenditure for the year.

Copyright © 1997 Indian Express Newspapers (Bombay) Ltd.