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GlaxoSmithKline reports an eight per cent revenue growth for FY19

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The company recently released its consolidated financial results, wherein it reported a 21 per cent hike in net revenue for FY19

GlaxoSmithKline has declared its financial results for the quarter ended 31st March 2019. The company reported revenue for the quarter to be at Rs.751 crore. It also stated a growth 17 per cent in profit after tax (PAT) at Rs 123 crore.

According to the press release issued by GlaxoSmithKline, the full year net revenue was at Rs 3128 crore, a growth of 8 per cent (sales growth of 10 per cent) compared to the last year. Profit After Tax at Rs 425 crore was also higher by 21 per cent against the previous year.

Commenting on the results, A. Vaidheesh, Managing Director, GlaxoSmithKline Pharmaceuticals Limited said, “I am pleased with our overall strong performance for the year. Our new commercial model, with increased focus on our priority brands and a new trade channel strategy is working well. The underlying Sales growth, adjusting for tail-end brand rationalisation and divestment, is a healthy 12 per cent, driven by our priority brands.

Seven of GSK’s pharma brands featured among the Industry Top 50 by the year end, according to the press release. “One of the highlights of this year was the launch of Nucala (Mepolizumab), a humanised monoclonal antibody which is indicated as an add-on treatment for severe refractory eosinophilic asthma in adult patients”, it added.

“A focussed drive to improve operational efficiencies, use of smart technology, cost reduction and a positive product mix has resulted in our EBITDA margin improving by 2 percentage points versus previous year, to 20 per cent,” the press release further stated.

Board of Directors of the company have recommended a dividend of Rs 20 per equity share for the 12 months period ended March 31, 2019.

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