GSK Pharma Q4 net inches up 1.3% at Rs 138 cr

Net sales of the company stood at Rs 657 crore

GlaxoSmithKline Pharmaceuticals today reported a 1.29 per cent rise in its net profit at Rs 138.51 crore for the quarter ended December 31, 2012.

The company had posted a net profit of Rs 136.74 crore for the corresponding period previous fiscal, the company said in a statement.

Net sales of the company stood at Rs 656.69 crore for the quarter under consideration as against Rs 566.03 crore for the year ago period.

In a separate statement, the company said its board has recommended a dividend of Rs 50 per equity share for the year.

"If approved by the shareholders at the annual general meeting the dividend will absorb Rs 424 crore. The dividend distribution tax borne by the company will amount to Rs 64 crore," GlaxoSmithKline Pharmaceuticals said.

In 2012, the company added new products across various therapeutic areas.

Altargo was launched in the dermatology portfolio, Volibris was launched to treat pulmonary arterial hypertension (PAH) and Hycamtin was launched to fulfil unmet needs for patients with advance cancers and relapsed small cell lung cancer, it added.

"The company forayed in CNS through the launch of Lamictal a newer epileptic drug for treatment of partial and generalised seizures in children and adults. It is also used in bipolar disorder for preventing mood episodes like depression and mania," GlaxoSmithKline Pharmaceuticals said.

Branded generics were also added to the already existing range of products, it added.

Shares of GlaxoSmithKline Pharmaceuticals were today trading at Rs 2,104.45 per scrip on BSE, up 0.62 per cent from their previous close.