GlaxoSmithKline clocks Rs.1.14 bn profit in first quarter

July 28th, 2008 - 4:41 pm ICT by IANS  

Mumbai, July 28 (IANS) Pharmaceutical major GlaxoSmithKline Pharmaceuticals Ltd posted a net profit of Rs.1.14 billion for the first quarter this fiscal, compared to Rs.964.30 million during the corresponding period last year, the company said here Monday. In a regulatory statement, the firm said its total income during the April-June quarter this year was Rs.4.42 billion, compared to Rs.4.15 billion in the corresponding period in 2007.

The growth in net sales (net of excise and excluding the fine chemicals business) was 11.2 percent during the quarter.

The company said in a statement that the growth in gross sales (excluding the fine chemicals business) during the quarter was impacted by lower selling prices as a result of the excise benefit passed on to consumers.

Shares of the company were trading at Rs.1,113 in the Bombay Stock Exchange Monday afternoon, up Rs.17.40.

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