GlaxoSmithKline Pharma Q1 net up 37.52% at Rs 169 cr

GlaxoSmithKline Pharmaceuticals today reported a 37.52% rise in its net profit to Rs 169.01 crore for the first quarter ended March 31, 2013 from the same period previous fiscal.

The company had posted a net profit of Rs 122.89 crore for quarter ended March 31,2012, GlaxoSmithKline Pharmaceuticals said in a filing to BSE.

Net sales of the company for the quarter under consideration also rose to Rs 632.14 crore from Rs 622.78 crore for the same period year ago.

Commenting on the results, GSK Pharmaceuticals Managing Director Hasit B Joshipura said: "Growth of the core pharmaceuticals business suffered on account of supply chain constraints in parts of our Nashik facility as well as some contract manufacturer sites."

Growth was also impacted on account of supply constraints around vaccines. The local supply situation is expected to normalise by the end of the second quarter, he added.

GSK India product portfolio includes prescription medicines and vaccines. The company's prescription medicines range across therapeutic areas such as anti-infectives, dermatology, gynaecology, diabetes, oncology, cardiovascular disease and respiratory diseases.

Shares of GlaxoSmithKline Pharmaceuticals were today trading at Rs 2,459.80 per scrip on BSE, up steep 6.14% from its previous close.