GSK Pharma Sept qtr net rockets 198%

BS 200 SCORECARD

GlaxoSmithKline Pharmaceuticals has posted a 198 per cent increase in net profit to Rs 172.50 crore for the quarter ended September 30 compared with a net profit of Rs 57.74 crore in the corresponding quarter previous year.

Net sales for the quarter increased by 20 per cent to Rs 373.64 crore from Rs 311.91 crore in the same quarter of the previous year. Net profit for the quarter is essentially boosted by the exceptional item (net of tax) to the tune of Rs 93.42 crore comprising sale of land at Worli in Mumbai besides expenses incurred on account of employees separation cost at the company's Bangalore unit.

The other income for the quarter was Rs 5.33 crore against Rs 9.03 crore in the previous year. Staff cost incurred during the quarter was Rs 37.62 crore against Rs 34.34 crore in the previous year.