GlaxoSmithKline Pharmaceutical, a Rs.2,155 crore leading MNC, has announced growth of 15.6 per cent in net profit, before exceptional items, to Rs.186.33 crore from Rs.161.19 crore in the similar period of last year. However, after the provision of Rs.185.87 crore for exceptional items like provision for pricing of bulk drugs and formulations, for interest claim, taxation for earlier years, deferred tax for earlier years, and expenses for rationalization initiatives, the net profit worked out to Rs.0.46 crore as compared to Rs.161.19 crore in the corresponding period of last year.


EBDITA improved only by 1.5 per cent to Rs.226.99 crore from Rs.223.57 crore. Its employees cost increased by 16.5 per cent. The company gained Rs.33.10 crore from interest income as compared to Rs.20.34 crore in the similar period of last year.


The company's net sales increased by 11.4 per cent to Rs.602.90 crore from Rs.541.10 crore. Its net sales of pharmaceutical products went up by 12.4 per cent.


Commenting on the performance during the quarter, Dr Hasit B Joshipura, managing director, said, “All of the company's major business segments have registered good growth. In particular, vaccines and the Mass Speciality business have registered strong double digit growth. The quarter saw the launch of two new products, one branded generic Calpol-T in the fast growing pain segment and Ansolar (Sunscreen gel) a product from the Stiefel dermatology range.”


The company received marketing approvals for two innovative products i.e. Votrient for renal carcinoma and Revolade for platelet depletion. It expects to launch these products in the ensuing quarter. Selling resources were strengthened by an addition of 550 numbers during the quarter.


For the full year ended December 2010, GSK has reported net sales of Rs.2112 crore and it earned a net profit of Rs.285.89 crore. The company paid equity dividend of Rs.40 per share.