Profit After Tax (PAT) for the quarter at Rs 131 crores grew by ~ 13 per cent
GlaxoSmithKline Pharmaceuticals (GSK) has declared its financial results for quarter ended June 30, 2023. Revenue from operations for the quarter grew by ~ 1 per cent at Rs 738 crores. The company maintained its gross margins despite the National List of Essential Medicines (NLEM) impact, while EBITDA margins declined ~ 1 per cent on account of new product launch investments led by Shingrix. Profit After Tax (PAT) for the quarter at Rs 131 crores grew by ~ 13 per cent.
During the quarter, the company delivered a robust volume growth of 8 per cent for its key promoted portfolio with market share gains. This along with the implementation of WPI price increases, has helped offset the NLEM impact. In addition, GSK’s vaccines business has now demonstrated a sequential Q-o-Q increase and maintained leadership in the private self-pay market.
Bhushan Akshikar, Managing Director, GlaxoSmithKline Pharmaceuticals said, “Despite the strong external headwinds, GSK remains focused on delivering best-in-class competitive performance and driving operational efficiencies. We remain committed to explore new growth opportunities and improving our leadership in key therapy areas.”