GlaxoSmithKline Pharma Q3 profit up 69% at Rs89 crore
New Delhi: Drug firm GlaxoSmithKline Pharmaceuticals on Friday reported a 69.38% rise in its standalone net profit to Rs89.69 crore for the quarter ended December 2017.
The company had posted a net profit of Rs52.95 crore for the same period of the previous fiscal, GlaxoSmithKline Pharmaceuticals said in a BSE filing. Standalone revenue from operations of the company stood at Rs703.91 crore for the quarter under consideration as against Rs706.38 crore for the same period a year ago.
“Overall underlying performance, excluding the impacts of GST and prior year disposals, is supported by high single to double-digit volume growth on our key brands and therapy areas,” GlaxoSmithKline Pharmaceuticals managing director A. Vaidheesh said.
During the quarter, the company has received the money in advance towards disposal of Thane Land, he added. Shares of GlaxoSmithKline Pharmaceuticals closed at Rs2,439.25 per scrip on BSE, down 0.41% from its previous close.