Glaxosmithkline Pharmaceuticals soared 13.23% to Rs 2,291.55 after the company's standalone net profit jumped 46.85% to Rs 193.08 crore in Q4 FY24 as compared to Rs 131.48 crore posted in Q4 FY23.
Revenue from operations grew by 16.46% year on year to Rs 910.87 crore during the quarter.
Profit before exceptional item and tax was at Rs 266.31 crore in the March quarter, up 50.54% from Rs 176.90 crore recorded in Q4 FY23. Exceptional item for the quarter stood at Rs 2.40 crore.
EBITDA margin stood at 28% in the quarter ended 31 March 2024.
Total expenses increased by 6.51% YoY to Rs 674.43 crore in Q4 FY24. Cost of materials consumed was at Rs 192.29 crore (up 100.93% YoY) while employee benefits expense stood at Rs 172.83 crore (up 16.12% YoY) during the period under review.
Also Read
On full year basis, GSK Pharma's consolidated net profit declined 3.79% YoY to Rs 584.69 crore in FY24. Revenue for FY24 was at Rs 3,407 crore, up 6%, demonstrating positive growth driven by a strong volume recovery thereby offsetting NLEM (National List of Essential Medicines) impact.
Bhushan Akshikar, managing director, GlaxoSmithKline Pharmaceuticals, said, For Q4, we delivered a strong double-digit growth and a robust performance across our General Medicines, Specialty and Vaccines portfolio. Our General Medicines portfolio recorded strong double-digit growth of 12% for the quarter, driven by key focus brands Augmentin, Ceftum and Calpol. Despite the NLEM impact in previous quarters, all promoted brands outpaced their respective categories in growth and gained market share.
Specialty portfolio led by Nucala and Trelegy has accelerated the momentum with highest patient recruitment in Q4.
For the vaccines business, over the last two quarters, we have seen a steady upswing in both adult and paediatric segments. This business delivered a Q4 growth of 35%. We continue to build on the momentum generated with the launch of Shingrix (Zoster Vaccine Recombinant, Adjuvanted) as we drive expansion of the Adult Immunisation category in India with innovative go-to-market (GTM) strategies.
Meanwhile, the companys board has recommended a dividend of Rs 32 per equity share for FY24. The record date for the dividend is set on Friday, 31 May 2024.
GlaxoSmithKline Pharmaceuticals is a subsidiary of GlaxoSmithKline plc, one of the world's leading research-based pharmaceutical and healthcare companies.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content