GlaxoSmithKline Pharma Q2 net up 3% to Rs 193 cr, revenue down to Rs 906 cr

GlaxoSmithKline Pharmaceuticals on Friday said its net profit increased 3 per cent to Rs 193 crore in the second quarter ended September.

The drug maker had reported a net profit from continuing operations at Rs 187 crore in the July-September period of the previous fiscal.

However, revenue from operations declined to Rs 906 crore in the second quarter of the current fiscal compared to Rs 916 crore in the year-ago period, GlaxoSmithKline Pharmaceuticals said in a regulatory filing.

"GSK India has delivered another quarter of strong performance in general medicines and specialty business, gaining market share. We hope to build on this momentum in the coming quarters and continue to focus on our key brands to drive sustainable profitable growth," GlaxoSmithKline Pharmaceuticals Managing Director Sridhar Venkatesh said.

Vaccines business was impacted due to low vaccination rates as the overall market for the self-pay segment in which the company operates continues to decline, he added.

Shares of the company declined nearly 1 per cent to close at Rs 1,327.7 apiece on BSE.