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GlaxoSmithKline net up 18% at Rs 137 cr

Press Trust of India / Mumbai Feb 16, 2012, 14:19

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GlaxoSmithKline Pharmaceuticals today said its net profit rose by 18.18% to Rs 136.74 crore for the quarter ended December 31, 2011, over the same period last fiscal due to growth in its specialty products and vaccines.

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Results Snapshot more  Sales 2357.91  Total Expenses 1736.45  Net Profit 553.03  EPS(TTM) 84.70  Equity 65.29

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The company had posted a net profit of Rs 115.70 crore for the quarter ended December 31, 2010, GlaxoSmithKline Pharmaceuticals said in a filing to the BSE.

Net sales of the company stood at Rs 566.03 crore for the quarter as against Rs 490.63 crore for the corresponding period last fiscal.

In another filing to BSE, the company's board has recommended a dividend of Rs 45 per equity share for the year ended December 31, 2011.

The quarter saw the launch of Synflorix, a vaccine against invasive pneumococcal disease, the leading cause of childhood mortality in India, the company said.

This infection can result in pneumonia, infection of the blood , middle-ear infection or bacterial meningitis.

Commenting on the performance GlaxoSmithKline Pharmaceuticals MD Hasit Joshipura said: "Growth for the quarter was market competitive, driven by a revival in the anti-infective and mass markets segment."

"Our speciality business continued to register good growth aided by the launch of products from our global pipeline and branded generics.  The vaccine business showed a high growth trajectory, with the Company continuing to expand its  vaccine portfolio, he added.

For the year ended December 31, 2011, the company's standalone net profit declined to Rs 430.60 crore against Rs 563.69 crore in 2010.

Net sales of the company stood at Rs 2,338.03 crore for the year under consideration against Rs 2,111.64 crore last year.

Consolidated net profit of the company declined to Rs 428.58 crore for the year ended December 31, 2011 from Rs 560.57 crore for the year ended December 31, 2010.

Consolidated net sales of the company stood at Rs 2,378.48 crore for the year under consideration as against Rs 2151.05 crore for the same period ended December 31, 2010.

GlaxoSmithKline Pharmaceuticals is a subsidiary of GlaxoSmithKline plc, one of the world's leading research-based pharmaceutical and healthcare companies.

Shares of GlaxoSmithKline Pharmaceuticals were today trading at Rs 2,087.95 on the BSE, down 1.19% from its previous close, in afternoon trade.