Burroughs Wellcome (India) Ltd, the group company of GSK recorded a smart rise of 70.1 per cent in net profit during Q3. The company earned a net profit of Rs 11.31 crore in Q3 as against Rs 6.65 crore in the same period of previous year. The net sales income at the same time at Rs 57.92 crore recorded only a growth of 6.9 per cent. In fact, it is the other income at Rs 3.78 crore showing an increase of 14.5 per cent, which contributed to the substantial rise in net profit during the quarter under review.

During the nine months ended September 2002, the company achieved a net sales growth of 14.1 per cent at Rs 147.26 crore. While its other income at Rs 10.85 crore registered a growth of 20.9 per cent, the net profit at Rs 27.50 crore showed an increase of 73.5 per cent over Rs 15.85 crore in corresponding period of previous year. The improvement in the product margins and tight control on expenses resulted in an impressive jump in net profit in line with the expectation of the company. While net sales formed 88 per cent of last year's sales, the net profit outstripped more than 55 per cent.