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GSK Pharma net profit down in Q3

ByTeam BB

Feb 12, 2024



GSK Pharma reported a decline in net profit by 72% to Rs 46 crore for the third quarter ended December 31, in the wake of regulatory price caps on some of its legacy brands. The drug firm had reported a net profit of Rs 165 crore in the year-ago period.
The company’s total income increased to Rs 833 crore for the third quarter, as compared to Rs 826 crore in the year-ago period.
“We remain committed to new category development in areas like adult immunisation with products like Shingrix to make a positive impact to the lives of the patients in India,” GlaxoSmithKline Pharmaceuticals MD Bhushan Akshikar said.
The company’s revenue from operations for the quarter stood at Rs 805 crore, while its profit before exceptional Items and tax was at Rs 228 crore, a company statement said.
In a flat general medicines-represented market during the quarter, GSK recorded 1% value growth despite the NLEM (national list of essential medicines) impact, a company statement said.
Augmentin improved its market share and retained no. 1 rank in the domestic pharmaceutical market, it added. Vaccine market and portfolio continued to deliver sequential growth.
GSK will continue to invest in building newer capabilities to improve reach and access for its innovative portfolio comprising Shingrix, Nucala and Trelegy, it said.





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