GlaxoSmithKline Pharmaceuticals net profit rises 9.45% to Rs 165 cr in Q3

GlaxoSmithKline Pharmaceuticals Ltd reported a 9.45% rise in consolidated net profit at Rs 164.56 crore in the third quarter ended December 31, 2022

GlaxoSmithKline Pharmaceuticals Ltd on Tuesday reported a 9.45 per cent rise in consolidated net profit at Rs 164.56 crore in the third quarter ended December 31, 2022.

The company had posted a consolidated net profit of Rs 150.35 crore in the same quarter last fiscal, GlaxoSmithKline Pharmaceuticals (GSK Pharma) said in a regulatory filing.

Consolidated revenue from operations during the quarter under review stood at Rs 802.3 crore as against Rs 815.92 crore in the year-ago period, it added.

Total expenses were lower at Rs 590.1 crore compared to Rs 636.56 crore in the corresponding quarter last fiscal.

"General medicines portfolio grew by 10 per cent led by anti-infectives and dermatology therapies...Vaccine sales were down for the quarter in a declining self-pay vaccines market. However, we continue to gain market share for key vaccine brands," GSK Pharma Managing Director Bhushan Akshikar said.

During the quarter, he said, the National List of Essential Medicines (NLEM), 2022 was announced.

"The list includes 16 GSK brands, of which revised prices have been notified for eight brands. We will continue to drive various initiatives to mitigate the impact of the same," Akshikar said.