GlaxoSmithKline Pharma Q3 net up 76% at Rs 80 cr

GlaxoSmithKline Pharmaceuticals today posted 76.37% increase in net profit at Rs 79.9 crore for the third quarter of 2015-16.

The company had posted a net profit of Rs 45.30 crore for the same period of previous year.

Net sales of the company rose to Rs 728.70 crore in the October-December quarter this fiscal, from Rs 646.15 crore in the same period of previous year, GlaxoSmithKline Pharma said in a regulatory filing.

"The quarter includes the vaccine sales arising from the asset sales agreement with Novartis India that concluded at the end of the prior quarter and contributed to 4% sales growth," GSK Pharma Managing Director Vaidheesh Annaswamy said.

Investments at the company's existing site at Nashik as well as proposed manufacturing site at Vemgal, Karnataka are on track to deliver high quality products to meet the future demands of the Indian patient, he added.

Shares of the company today ended at Rs 3,238.95 apiece on the BSE, up 0.33% from previous close.