GSK Pharma's net profit falls 3.9% to Rs 150.3 cr in December quarter

GlaxoSmithKline Pharmaceuticals Ltd on Monday reported a 3.93 per cent decline in consolidated net profit to Rs 150.35 crore in the third quarter ended December 31, 2021.

The company had posted a consolidated net profit of Rs 156.51 crore in the corresponding quarter last fiscal, GlaxoSmithKline Pharmaceuticals said in a regulatory filing.

Total income in October-December 2021 stood at Rs 826.24 crore as compared with Rs 805.89 crore in the year-ago period, it added.

Its total expenses were higher at Rs 636.56 crore in the third quarter, compared with Rs 629.69 crore in the year-ago period.

GlaxoSmithKline Pharmaceuticals Managing Director Sridhar Venkatesh said, "GSK's established pharma portfolio recorded strong double-digit growth, driven by our core legacy brands such as Calpol, Augmentin and Ceftum."

While the promoted brands grew, the vaccines business was impacted on account of the third wave of the pandemic, he added.

"However, as this phase of the pandemic recedes and schools open up across the country, we are witnessing a steady uptake in vaccination.

"We also continue to invest in our brands and raise awareness amongst parents about more innovative vaccines from our portfolio," Venkatesh said.

During the quarter, the company concluded the sale of its Vemgal plant in Karnataka, he said.

He added that "in the subsequent quarters, we will also aim to close the transfer of Iodex and Ostocalcium brands to GlaxoSmithKline Asia Pvt Ltd, as part of GSK plc's plans to create two world-class companies in pharmaceuticals and consumer healthcare".