GlaxoSmithKline (GSK) Pharmaceuticals saw its consolidated net profit rise more than two-folds during the September quarter. The pharmaceutical major posted a consolidated net profit of ₹204.24 crore for the quarter ended September 30, 2021. The company had reported a net profit of ₹76.47 crore in the same period of the previous fiscal, marking a growth of almost 270 per cent.
Consolidated revenue from operations during the period under review rose to ₹1,009.87 crore, compared to ₹879.32 crore in the year-ago period, GSK Pharmaceuticals said in a regulatory filing opn Friday.
The company follows a January-December financial year.
“Our established brands grew in their respective therapeutic portfolios. Augmentin and Calpol regained their place amongst the top five brands in the Indian Pharmaceuticals Market (1PM). Our promoted portfolio also gained market share, while products from our innovation and specialty pipeline continued to make inroads to serve more patients," said GSK Pharma Managing Director Sridhar Venkatesh.
The company continues to find ways to leverage innovations in emerging technologies and deliver even greater value to shareholders, he added.
“We also improved our operational efficiencies, driven by sales growth and cost rationalisation. We also improved our cash position backed by working capital improvements. We expect this positive momentum to continue through the second half of the year driving us towards the better end of a meaningful performance improvement," Venkatesh noted.
