GlaxoSmithKline Pharmaceuticals has reported satisfactory performance during the third quarter ended September 2012. Its net profit improved by 4.4 per cent to Rs.152.34 crore from Rs.145.86 crore in the corresponding period of last year. The company provided Rs.16.55 crore pertaining to rationalisation initiatives relating to a manufacturing site. Its EBDITA increased by 12.1 per cent to Rs.246.78 crore from Rs.220.10 crore. The earnings per share surged to Rs.18 from Rs.17.2 in the last period.
The company's net sales increased by 10 per cent to Rs.668.50 crore from Rs.607.56 crore in the similar period of last year. The core pharmaceuticals business grew by 11 per cent. It launched Zimivir for herpes treatment and expanded its CNS portfolio by launching ictacetam used in the treatment of epilepsy.
Dr Hasit Joshipura, managing director, said, “The vaccines business continues to record strong growth. The quarter also saw good growth across verticals, in particular, specialities. Sales were impacted due to constraints of sterile manufacture owing to shutdown of one of the suppliers, as well as, on account of constraints at the Nashik facility. These constraints have since been resolved.”
For the first nine months ended September 2012, its net sales increased by 9.7 per cent to Rs.1,944 core from Rs.1,772 crore in the same period of last year. It net profit, however, taken a jump of 49.3 per cent and touched to Rs.438.75 crore from Rs.293.86 crore due to lower provision for exceptional cost which amounted to Rs.118.53 crore as compared to Rs.306.79 crore in the previous period.