The multinational pharma company GlaxoSmithKline Pharmaceutical Ltd has registered a marginal increase in its net profit of 8.9 per cent at Rs 121.27 crore during the quarter ended March 31, 2008 against Rs 111.32 Crores registered during the corresponding period last year. However, its net sales have declined by 0.79 per cent to Rs 418.11 crore from Rs 421.46 in the corresponding period last year. The company's earning per share worked out to Rs 14.3 against Rs 13.1 last year.
Commenting on the performance, Dr Hasit B. Joshipura, managing director, said, "During the quarter, priority products have grown by 9 per cent. Sales of price controlled products have been impacted by excise drops which are being passed on and the consequent price adjustment due to these changes. We intend to pass on the effect of excise changes across the portfolio". He further added, "We are also well positioned to launch the breast cancer drug, Tykerb and the rotavirus vaccine, Rotarix during the year".