GSK Pharma FY07 net at Rs 547cr

GlaxoSmithKline Pharmaceuticals today reported a consolidated net profit at Rs 547.55 crore and total income of Rs 1,701.08 crore for the year ended December 31, 2007.

According to a release issued by GSK to the BSE today, the company had reported a net profit of Rs 551 crore and total income of Rs 1,652.47 crore for the year ended December 31, 2006.

"The growth in sales (excluding the animal health and fine chemicals businesses) was 7.8% and in profit before tax and exceptional items was 13.8% for the year ended December 31, 2007 on a comparable basis. The growth in sales and profits was primarily driven by sales of priority products, which registered a double digit growth, improvement in the gross margin and expense control. The figures for the current period are not comparable with those of the previous period in view of the sale of the fine chemicals business on September 30, 2007 and of the animal health business on July 31, 2006," the release added.

The board of directors, which met today, recommended a dividend of Rs 18 per share for the year ended December 31, 2007 and a special additional dividend of Rs 18 per share.