Glaxo net rises by 42 per cent

GlaxoSmithKline Pharmaceuticals has reported a 42 per cent increase in its net profit (before exceptional items) to Rs 181.86 crore for the year ended December 31 from Rs 128.47 crore in the previous year. Net sales for the year stood increased by 3.8 per cent to Rs 1191.69 crore against Rs 1148.22 crore last year.

The company attributed its performance to a healthy growth of priority brands and enhanced operational efficiencies. The Animal Health business (AFC) recorded a growth of 4.4 per cent, while sales in the Qualigens Fine Chemicals (QFC) business increased by 16.4 per cent.

Export sales were lower than last year by 43 per cent. Sales of the pharmaceuticals business segment was Rs 971 crore, constituting 81 per cent of the company's total sales.

Other income for the year stood at Rs 34.62 crore compared with Rs 34.40 crore in the previous year. Interest income increased from Rs 8.31 crore to Rs 19.75 crore. The board has recommend a dividend of Rs 10 per equity share for the year (previous year Rs 7 per equity share).

If approved by the shareholders at the annual general meeting, the total outgo on account of dividend payout would be Rs 74.48 crore.