GlaxoSmithKline Pharmaceuticals (GSK) has suffered a setback during the third quarter ended September 2011 and its net profit declined by 7.6 per cent to Rs.145.86 crore from Rs.157.81 crore in the similar period of last year. The net sale increased by 4.4 per cent to Rs.608 crore from Rs.582 crore. With lower profits its earnings per share declined to Rs.17.2 from Rs.18.7 in the last period. Its EBDITA also declined by 15.2 per cent to Rs.183.04 crore from Rs .215.96 crore.


For the first nine months ended September 2011, GSK's net profit declined sharply by 34.4 per cent to Rs.293.86 crore from Rs.447.99 crore in the corresponding period of last year mainly due to exceptional items of Rs.190.12 crore in the current period as against Rs.11.06 crore in the last period. Its EBDITA declined by 2 per cent to Rs.618.19 crore from Rs.630.78 crore. Its interest income moved up sharply to Rs.99.97 crore from Rs.66.11 crore. The net sales increased by 9.3 per cent to Rs.1772 crore from Rs.1621 crore in the same period of last year.


Dr Hasit B Joshipura, managing director, said, “Vaccine & Speciality franchises continue to register strong double digit growth which includes dermatology, oncology, cardiovascular & metabolic. The mass market businesses and anti-infectives were impacted by a relatively lower growth of the market and a high base effect. The ramp up in filed force during the course of the year has impacted costs.”