Smithkline Beecham Net Up 18 Per Cent To Rs 19 Crore

SmithKline Beecham Pharma-ceuticals, the Bangalore-based pharma company, has posted a 18.88 per cent rise in sales for the year-ended 1996. Net profit rose 18.7 per cent from Rs 16.28 crore to Rs 19.33 crore.

The company has declared a dividend of 35 per cent. Earnings per share (EPS) was Rs 13.14 against Rs 11 per share last year.

Sales went up from Rs 169.91 crore to Rs 201.99 crore. Operating profits went up from Rs 29.10 crore to Rs 35.54 crore, as a result, operating margin also rose from 17.13 per cent to 17.59 per cent.

SmithKline Beecham incurred an interest burden of Rs 0.79 crore, a 105 per cent rise over last year's figures of Rs 0.38 crore. The company made a provision of Rs 13.70 crore for tax as against Rs 11 crore made last year. It also made a provision of Rs 2.79 crore towards the claim made by Fairgrowth Financial Services Ltd for the prior years dividends on units of UTI, as the matter still being subjudice.

SmithKline's scrip on the BSE yesterday opened at Rs 293.75, the day's high and closed at Rs 290 after touching a low of Rs 289. The scrip had opened at Rs 296.75 and closed at Rs 295 on February 14, the day of the board meeting. It also witnessed high trading, with 43,466 shares being traded yesterday. The company's AGM is to be held on April 17.

SmithKline brands include Iodex, Zentel and Fefol. It also bought 'Crocin' from Duphar Interfran and has set up a plant in Mysore to make 6APA.