Mumbai: GlaxoSmithKline Pharmaceuticals Sunday announced a net profit of Rs121.27 crore for the first quarter ended 31 March, 2008.
It had posted a net profit of Rs111.32 crore in the year -ago period.
The figures for the current period are not comparable with those of the previous one in view of the sale of Fine Chemicals business on 30 September, 2007, GlaxoSmithKline said in a filing to the Bombay Stock Exchange.
The company had a total income of Rs 452.21 crore in the latest quarter, whereas it was at Rs441.46 crore in the same period a year ago.
Further, growth in net sales (excluding the Fine Chemicals business) stood at 5.3% for the March quarter.
This performance must be viewed in the context of pipeline inventory adjustments in March 2008 on account of excise- related price changes, the filing added.
In late afternoon trade, shares of the firm were trading at Rs1,022.10, up 1.72% on the BSE.