GlaxoSmithKline Pharma’s Profit After Tax (before exceptional items) increased by 42 per cent to Rs. 182 crore for the financial year ended December 2003 compared to Rs. 128.5 crore, the year ago. The company’s net sales for the year ended December 2003 increased to Rs. 1,192 crore compared to Rs. 1,148 crore, year ago.

For the quarter ended December 2003, the company achieved a net profit of Rs. 36.6 crore compared to corresponding previous quarter’s Rs. 21.66 crore. The net sales for the quarter ended December 2003 was at Rs. 246.6 crore compared to the previous corresponding quarter’s net sales of Rs. 229 crore.

The pharmaceuticals sales growth was totally driven by the 30 priority products, which registered a double digit growth.

The company registered a sales growth of 3.8 per cent in 2003. Pharmaceuticals sales grew by 5.8 per cent over the previous year. The Animal Health Business (AFC) recorded a growth of 4.4 per cent. Sales in the Qualigens Fine Chemicals Business (QFC) increased by 16.4 per cent. Exports sales were lower than last year by 43 per cent.