GlaxoSmithKline Pharmaceuticals Limited delivers strong Q3 performance with Revenue up 17% and PAT higher by 26%.
Deepthi | Myequity news | Date : 04-02-2019 15:50:00 IST
GlaxoSmithKline Pharmaceuticals Limited today declared its financial results for the quarter ended 31st December, 2018. Revenue for the quarter came in at Rs.825 crores, recording a growth of 17% as compared to the same prior year period. Profit Before Tax (PBT) at Rs. 170 crores grew by 21 % and Profit After Tax (PAT) at Rs.113 crores grew by 26%.
Revenue for the nine months ended 31st December 2018, came in at Rs.2377 crores, growing 11 % as compared to the same prior year period. Profit Before Tax (PBT) at Rs.464 crores and Profit After Tax (PAT) at Rs.302 crores are higher by 27% and 23% respectively, against the same prior year period.
Commenting on the results, A. Vaidheesh, Managing Director, GlaxoSm ithKline Pharmaceuticals Limited said, "The business embarked on its new strategy this year, as we put in place an optimal commercial structure and worked at building capability.
Our new commercial model is in place, with increased focus on our priority brands, and expansion in our field force to drive this focus, including a new trade channel strategy. Our financial performance highlights the outcomes of this execution with a headline double digit Sales growth both for the quarter and year to date, underpinned by a strong volume delivery.
Exceptional Items for the quarter ended 31st December, 2018 comprise profit from sale of property Rs.23 crores and non-core brand divestments contributing Rs.5 crores." About GlaxoSmithKline Pharmaceuticals Limited:
GlaxoSmithKline Pharmaceuticals Limited is a subsidiary of GlaxoSmithKline pie, one of the world's leading research-based pharmaceutical and healthcare companies, committed to improving the quality of human life by enabling people to do more, feel better and live longer.