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Feb, 06 2019

GlaxoSmithKline Pharma posts 26% rise in net profit at Rs 113 cr

During the corresponding period of the previous fiscal, the company had reported a net profit of Rs 89.69 crore.

Drug firm GlaxoSmithKline Pharmaceuticals has posted a 26% increase in its standalone net profit at Rs 113 crore for the quarter ended December 31, 2018. During the corresponding period of the previous fiscal, the company had reported a net profit of Rs 89.69 crore.

The company's standalone revenue from operations stood at Rs 825.35 crore for the quarter under consideration as compared to Rs 703.91 crore for the same period a year ago. 

A Vaidheesh, Managing Director of GlaxoSmithKline Pharmaceuticals, said, "The business embarked on its new strategy this year, as we put in place an optimal commercial structure and worked at building capability. New commercial model of the company is in place, with an increased focus on priority brands, and expansion in field force to drive this focus, including a new trade channel strategy." 

"Our financial performance highlights the outcomes of this execution with a headline double-digit sales growth both for the quarter and year to date, underpinned by a strong volume delivery. Exceptional items for the quarter ended December 31, 2018, comprise profit from the sale of property of Rs 23 crore and non-core brand divestments contributing Rs 5 crore," Vaidheesh added. 

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