Express Pharma

GlaxoSmithKline Pharmaceuticals announces Q3 result

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The company reports Profit Before Tax (PBT) at Rs 140 crores and Profit After Tax (PAT) at Rs 90 crores

GlaxoSmithKline Pharmaceuticals has declared its financial results for the quarter ended December 31, 2017. Revenue from operations for the quarter ended December 31, 2017 at Rs 704 crores was flat as compared to the same prior year period. The revenue is deflated by an estimated 5 per cent during the quarter, that is predominately profit neutral, and arising from the impact of the newly implemented GST rates. Consequently, the revenue of this quarter is not directly comparable to prior year quarters due to the dynamics and rates from GST.

Profit Before Tax (PBT) at Rs 140 crores and Profit After Tax (PAT) at Rs 90 crores grew by 79 per cent and 69 per cent respectively against the same prior year period. This needs to be viewed in light of a low prior year base due to impacts from demonetisation.

A Vaidheesh, MD, GlaxoSmithKline Pharmaceuticals says, “Overall underlying performance, excluding the impacts of GST and prior year disposals, is supported by high single to double digit volume growth on our key brands and therapy areas. An improved product mix, other credits to consumption, lower stock impairments combined with optimisation of costs contributed to an EBITDA margin of 21 per cent in the quarter. During the quarter the Company has received the money in advance towards disposal of Thane Land. The transfer of the said land will happen upon obtaining all relevant statutory and other permissions. The amount received has been accounted as advance against sale of land.”

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