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GSK Pharma Q3 net drops 7.6%

GSK Pharma Q3 net drops 7.6%
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First Published: Fri, Nov 04 2011. 10 40 PM IST

Updated: Fri, Nov 04 2011. 10 40 PM IST
Mumbai: GlaxoSmithKline Pharmaceuticals Ltd, Indian unit of British drug maker GSK Plc, has posted 7.6% drop in net profit at Rs 145.86 crore in the quarter ended 30 September as against Rs 157 crore a year ago. Its sales grew 4.47% to Rs 607.56 crore.
Although net sales of the company’s pharmaceutical business grew 6.5% during the quarter. “The mass market businesses and anti-Infectives were impacted by a relatively lower growth of the market and a high base effect. The ramp up in field force during the course of the year has impacted costs,” said managing director Hasit B. Joshipura said in a statement on Friday.
The company’s vaccine and specialty segments continue to register strong double digit growth which includes dermatology, oncology, cardiovascular and metabolic disorders, he added.
GSK shares moved up 0.98% to close at Rs 2109.55 on Bombay Stock Exchange on Friday.
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First Published: Fri, Nov 04 2011. 10 40 PM IST