GlaxoSmithKline Pharmaceuticals (GSK) today reported a rise of 7 per cent in net profit to Rs 141.08 crore for the third quarter ended September 30, 2009.
The net sales of drug manufacturer grew by 12 per cent to Rs 511.81 crore in the latest quarter of current year from Rs 456.95 crore of the corresponding quarter a year earlier, GSK Pharma said in a filing to the Bombay Stock Exchange (BSE).
"The growth sales was impacted due to lower selling prices as a result of excise duty reduction being passed on to the consumer," the company said.
For the nine-month period ended September 30, 2009, the drug maker posted a net profit of Rs 408.70 crore, up 11 per cent as compared to Rs 368.10 crore of the same period a year ago.
Shares of GSK Pharma were trading at Rs 1,600, marginally down by 0.04 per cent in the afternoon trade on the BSE