Mumbai: Drug-maker GlaxoSmithKline Pharmaceuticals said that its net profit for the third quarter ended 30 September stood at Rs131.97 crore, whereas it had a net profit of Rs249.01 crore for the same quarter a year ago.
Net sales of the company rose to Rs456.95 crore for the quarter under review from Rs420.80 crore for the same period last fiscal, GlaxoSmithKline Pharmaceuticals Ltd said in a filing to the Bombay Stock Exchange (BSE).
“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 30 September, 2007,” the company said.
“The growth in gross sales (excluding the Fine Chemicals business) during the quarter ended 30 September, 2008, was impacted due to lower selling prices as a result of the excise benefit passed on to the consumer,” GlaxoSmithKline Pharma said.
On nine months basis, the drug-maker registered a net profit of Rs360.10 crore, against Rs456.76 crore for the same period previous year.
While, the net sales of the company rose to Rs1291.96 crore for the reviewed period from Rs1237.87 crore for the same period last fiscal.
Shares of the company today fell by 5.79% and settled at Rs980.35 on the BSE.