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GlaxoSmithKline Pharmaceuticals’ posts ₹ 825 crores revenue in Q3

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Revenue for the nine months ended December 31, 2018, came in at ₹ 2377 crores

GlaxoSmithKline Pharmaceuticals declared its financial results for the quarter ended December 31, 2018. Revenue for the quarter came in at 825 crores, recording a growth of 17 per cent as compared to the same prior year period. Profit Before Tax (PBT) at 170 crores grew by 21 per cent and Profit After Tax (PAT) at ₹ 113 crores grew by 26 per cent.

Revenue for the nine months ended December 31, 2018, came in at 2377 crores, growing 11 per cent as compared to the same prior year period. Profit Before Tax (PBT) at 464 crores and Profit After Tax (PAT) at 302 crores are higher by 27 per cent and 23 per cent respectively, against the same prior year period.

Commenting on the results, A Vaidheesh, Managing Director, GlaxoSmithKline Pharmaceuticals Limited said, “The business embarked on its new strategy this year, as we put in place an optimal commercial structure and worked at building capability. Our new commercial model is in place, with increased focus on our priority brands, and expansion in our 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 sale of property 23 crores and non-core brand divestments contributing 5 crores.”

 

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