GlaxoSmithKline Pharma Q4 net profit declines 6 pc to Rs 138 cr

Drug firm GlaxoSmithKline Pharmaceuticals on Monday reported a 5.95 per cent decline in its consolidated net profit toRs 138.07 crore for the fourth quarter ended March 31, 2020.

The company had posted a net profit of Rs 146.81 crore for the same period previous fiscal,GlaxoSmithKline Pharmaceuticals said in a BSE filing.

Consolidated revenue from operations stood at Rs775.80 crore for the quarter under consideration. It was Rs 750.81 crore in the same period a year ago.

For the fiscal year ended March this year, the company posted a net profit of Rs 93.20 crore as against Rs445.39 crore in the previous fiscal, the filing said.

Revenue from the operations of the company for the fiscal ended March this year stood at Rs 3,224.38 crore. It was Rs 3,128.12 crore in the year-ago period, it added.

"Despite the headwinds caused by COVID-19 during Q4, I am pleased with our overall performance during the year. Keeping patient safety at the core, GSK continues to serve the patients through a dedicated workforce that has ensured continued production and supply of medicines across the country during such challenging circumstances," GlaxoSmithKline Pharmaceuticals MD Sridhar Venkatesh said.

The Q4 has presented an unprecedented challenge in the form of a global pandemic, he added.

At GSK, our core guiding principles remains employee safety and well-being, business continuity, and social responsibility,Venkatesh said.

The Board of Directors recommend a dividend of Rs 40 per equity share which includes a special dividend of Rs 20 per share for this year, the filing said.

Shares of GlaxoSmithKline Pharmaceuticals closed at Rs1,364.40per scrip on the BSE, down2.05per cent from its previous close.