GSK Pharma Q3 net profit jumps over two-folds to Rs 204 crore

GlaxoSmithKline (GSK) Pharmaceuticals on Friday posted an over two-fold increase in its consolidated net profit at Rs 204.24 crore for the third quarter ended September 30, 2021.

The company had reported a net profit of Rs 76.47 crore in the same period of the previous fiscal.

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Consolidated revenue from operations rose to Rs 1,009.87 crore in the period under review as against Rs 879.32 crore in the year-ago period, GSK Pharmaceuticals said in a regulatory filing.

The company follows a January-December financial year.

"Our established brands grew in their respective therapeutic portfolios. Augmentin and Ca/pol regained their place amongst the top five brands in the Indian Pharmaceuticals Market (1PM). Our promoted portfolio also gained market share, while products from our innovation and specialty pipeline continued to make inroads to serve more patients," its Managing Director Sridhar Venkatesh said.

The company continues to find ways to leverage innovations in emerging technologies and deliver even greater value to shareholders, he added.

"We also improved our operational efficiencies, driven by sales growth and cost rationalisation. We also improved our cash position backed by working capital improvements. We expect this positive momentum to continue through the second half of the year driving us towards the better end of a meaningful performance improvement," Venkatesh noted.