Drug firm GlaxoSmithKline Pharmaceuticals reported a 16.56 percent rise in its standalone net profit to Rs 123.03 crore for the quarter ended March 31. The company had posted a net profit of Rs 105.55 crore for the corresponding period of the previous fiscal, GSK said in a filing to the BSE. Its standalone revenue from operations stood at Rs 751.22 crore for the quarter under consideration. It was Rs 748.62 crore for the corresponding quarter a year ago.
A Vaidheesh, managing director, GlaxoSmithKline India, shared his views and outlook.
“Our topline sales grew by 9 percent and the revenues -- because of the fact that it was the other income which got moved out compared to last year -- we had a 5 percent price growth and 4 percent volume growth," Vaidheesh said.
"Compared to the market that we are operating in, the last quarter of 2018-2019, the acute market - where we operate - grew by 6 percent and we grew by 9 percent,” he said.
The acute market is expected to grow about 7-8 percent in FY20 and GSK should be growing much faster than that, Vaidheesh said.
“Augmentin, Calpol and Betnovate are all top brands. Quite interestingly in 2018-2019, all these brands grew faster than the market. 2018-2019 is one of the best performing years for us. As an overall year, we ended up at about 10 percent growth and about 20 percent EBITDA. So all the brands have done exceedingly well mainly because of the fact that our supply situation has improved,” said Vaidheesh.