Glaxo SmithKline Pharmaceuticals announced a sharp drop in standalone net profit for the quarter ended June 2014. During the quarter, the profit of the company declined 14.56% to Rs 982.90 million. The profit of the company was Rs 1,150.40 million in the same quarter previous year.
Net sales for the quarter rose marginally 2.24% to Rs 6,598.00 million, compared with Rs 6,454 million for the prior year period. Earnings per share for the quarter stood at Rs 11.60, registering 14.07% decline over previous year period.
GlaxoSmithKline Pharmaceuticals, is an Indian subsidiary of GlaxoSmithKline plc, one of the world's leading research based pharmaceutical and healthcare companies.
| Quarterly Results - Standalone (Rs in mn) |
| As at | Jun - 14 | Jun - 13 | %Change |
| Net Sales | 6,598.00 | 6,453.70 | 2.24 |
| Net Profit | 982.90 | 1,150.40 | (14.56) |
| Basic EPS | 11.60 | 13.50 | (14.07) |
Shares of the company gained Rs 10.1, or 0.4%, to trade at Rs 2,505.00. The total volume of shares traded was 2,423 at the BSE (3.04 p.m., Tuesday).
