GSK Pharma rises after Q2 PAT jumps 76% YoY

GlaxoSmithKline Pharmaceuticals gained 3.69% to Rs 1,558.55 after the company reported a 76% rise in standalone net profit to Rs 202.65 crore on a 12.8% increase in net sales to Rs 991.53 crore in Q2 FY22 over Q2 FY21.

Profit before Tax (before exceptional) for the quarter stood at Rs 271 crore, recording a growth of 42%. EBITDA stood at Rs 274 crore, posting a growth of 34%. The result was announced after market hours on Friday, 29 October 2021.

Commenting on the results, Sridhar Venkatesh, MD of GlaxoSmithKline Pharmaceuticals said, "We delivered a strong performance in Q2. As the acute market showed signs of recovery, our established brands grew in their respective therapeutic portfolios. Augmentin and Calpol regained their place amongst the top five brands in the Indian Pharmaceuticals Market (IPM). Our promoted portfolio also gained market share, while products from our innovation and specialty pipeline continued to make inroads to serve more patients. We continue to find ways to leverage innovations in emerging technologies and deliver even greater value to our shareholders in alignment with our priorities. We also improved our operational efficiencies, driven by sales growth and cost rationalisation. We also improved our cash position backed by working capital improvements. We expect this positive momentum to continue through the second half of the year driving us towards the better end of a meaningful performance improvement. Our clear priority is to focus on execution, unlocking the value for patients and delivering step change growth and performance.

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

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