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Business News/ Companies / GlaxoSmithKline posts net profit of Rs208 crore
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GlaxoSmithKline posts net profit of Rs208 crore


GlaxoSmithKline posts net profit of Rs208 crore

Going strong: GlaxoSmithKline Plc. headquarters in the UK. Simon Dawson / Bloomberg (GlaxoSmithKline Plc. headquarters in the UK. Simon Dawson / Bloomberg)Premium

Going strong: GlaxoSmithKline Plc. headquarters in the UK. Simon Dawson / Bloomberg
(GlaxoSmithKline Plc. headquarters in the UK. Simon Dawson / Bloomberg)

Mumbai: Higher income from investments helped GlaxoSmithKline Pharmaceuticals Ltd, or GSK Ltd, post a net profit of Rs208.47 crore in the three months to December, compared with Rs80.90 crore a year earlier, the drug maker said.

Going strong: GlaxoSmithKline Plc. headquarters in the UK. Simon Dawson / Bloomberg

“The quarter earnings of GSK (Ltd) are almost along expected line as its sales were impacted during the period compared to the industry average," an analyst at a Mumbai-based foreign brokerage said on condition of anonymity.

During its fiscal year, GSK Ltd launched patented cancer drug Tykerb and cardiac drug Olmesarten through a licensing deal with Japan’s Daiichi Sankyo Co. Ltd, and anti-fungal drug Micafungin. The firm follows a January to December accounting year.

It posted 5.28% growth in net sales at Rs1,660.41 crore for the full year and about 7.26% growth in net profit at Rs576.57, compared to fiscal 2007. In 2008, the firm also sold its fine chemicals business.

GSK Ltd shares closed 0.51% up on the Bombay Stock Exchange at Rs1,196.70 on Wednesday. The healthcare index of the stock exchange rose 0.37% and its benchmark Sensex index fell 0.22%.

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Published: 18 Feb 2009, 10:35 PM IST
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