Corporate Results
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Pharmaceuticals
GSK net up 79% at Rs 309 cr
Our Bureau
Mumbai
,
Oct. 28
GLAXOSMITHKLINE (GSK) Pharmaceuticals Ltd has posted a net profit of Rs 309.3 crore for the quarter ended September 30, up 79.3 per cent compared to Rs 172.5 crore in the corresponding period last year.
Total income (net of excise) has increased from Rs 384.9 crore in the third quarter in 2004 to Rs 438.4 crore for the quarter ended September 30, 2005.
The company said that the strong sales performance posted during April to September has more than offset the sales decline in the first quarter of the year, resulting in a growth of 6.3 per cent for the nine months from the pharmaceuticals and the other businesses of the company.
Exceptional items for the nine months ended September 30, was from the profit on sale of two properties located at Mulund, Mumbai. Following the buy back announcement made by GSK on April 30, the company has bought back from the open market through stock exchanges and extinguished 26,19,529 shares during the nine months ended September 30. Consequent to the buy back, the paid-up equity share capital as on September 30 is Rs 84.7 crore and promoter shareholding is 50.70 per cent, the company told the BSE.
The GSK Pharma stock fell by 4.39 per cent at Rs 875.05.
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