GSK Pharma Net Profit Falls 90% To Rs 14 Crore In March Quarter
GlaxoSmithKline (GSK) Pharmaceuticals reported a net profit of Rs 14.33 crore on the consolidated basis in the January-March quarter for the financial year 2020-21. According to a regulatory filing by the company to the stock exchanges, GSK Pharmaceuticals reported a net profit of Rs 138.07 in the corresponding quarter of the previous fiscal, marking a 90 per cent year-on-year decline in profit during the fourth quarter of fiscal 2020-21.
According to the statement, GSK Pharmaceuticals revenue from operations during the March quarter stood at Rs 813.75 crore, compared to Rs 775.80 crore in the year-ago period. The company's revenue from operations increased five per cent on a yearly basis during the January-March quarter.
On Wednesday, May 19, GSK Pharmaceuticals' board of directors recommended a final dividend of Rs 30 equity share of face value of Rs 10 each for the financial year 2020-21. The company added that if the dividend is approved by the members, then it will be paid on or after July 27, 2021.
''Our established portfolio made gains in their market share in respective categories, particularly in the anti-infectives and pain therapeutic areas which have been crucial in the fight against COVID. We also continued to maintain our leadership in dermatology. This growth has further strengthened our resolve to ensure patients get access to our medicines and vaccines that can make that lifesaving difference,'' said Sridhar Venkatesh, ManagingDirector, GlaxoSmithKline Pharmaceuticals Limited.
On Wednesday, shares of GlaxoSmithKline Pharmaceuticals settled 2.38 per cent lower at Rs 1,479.60 apiece on the BSE. GSK Pharmaceuticals opened on the BSE at Rs 1,515.75, swinging to an intra day high of Rs 1,515.75 and an intra day low of Rs 1,456 throughout the session today.
