GlaxoSmithKline Dec quarter net up 18% at R136.74 cr

GlaxoSmithKline Pharmaceuticals on Thursday said its net profit rose by 18.18% to R136.74 crore for the quarter ended December over the same period last fiscal due to growth in its specialty products and vaccines.

The company had posted a net profit of R115.70 crore for the quarter ended December 31, 2010, GlaxoSmithKline Pharmaceuticals said in a filing to the BSE. Net sales of the company stood at R566.03 crore for the quarter against R490.63 crore for the corresponding period last fiscal.

The quarter saw the launch of Synflorix, a vaccine against invasive pneumococcal disease, the leading cause of childhood mortality in India, the company said. This infection can result in pneumonia, infection of the blood , middle-ear infection or bacterial meningitis.

"Growth for the quarter was market competitive, driven by a revival in the anti-infective and mass markets segment," Hasit B Joshipura, MD, GlaxoSmithKline Pharmaceuticals, said.

"Our speciality business continued to register good growth aided by the launch of products from our global pipeline and branded generics. The vaccine business showed a high growth trajectory, with the Company continuing to expand its vaccine portfolio," he added.

For the year ended December, standalone net profit declined to R430.60 crore against R563.69 crore in 2010. Net sales of the company stood at R2,338.03 crore for the year under consideration against R2,111.64 crore last year.

Consolidated net profit of the company declined to R428.58 crore for the year ended December 31, 2011, from R560.57 crore for the year ended December 31, 2010.

Consolidated net sales of the company stood at R2,378.48 crore for the year under consideration against R2151.05 crore for the same period ended December 31, 2010.

Shares of GlaxoSmithKline Pharmaceuticals were on Thursday trading at R2,087.95 on the BSE, down 1.19% from its previous close, in afternoon trade.

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