GlaxoSmithKline Pharmaceuticals reported a surge of 76.37 percent in its net profit for the third quarter ended Dec 31, 2015 to Rs 79.9 crore.
The company had posted a net profit of Rs 45.3 crore for the corresponding period in the previous fiscal year. The net sales of the company rose to Rs 728.70 crore in the October-December quarter this fiscal, from Rs 646.15 crore in the same period of previous year, recording a 13 percent increase, according to the company's regulatory filing with the stock exchanges on Wednesday, Feb 10, 2016.
"The quarter includes the vaccine sales arising from the asset sales agreement with Novartis India that concluded at the end of the prior quarter and contributed to 4 percent sales growth," Vaidheesh Annaswamy, Managing Director, GlaxoSmithKline Pharmaceuticals, said in statement.
He also said that the investments at the company's existing site at Nashik as well as proposed manufacturing site at Vemgal, Karnataka, are on track to deliver high quality products to meet the future demands of the Indian patients.
"The cost base in this quarter, as compared to the corresponding prior year quarter, includes an incremental Corporate Social Responsibility Cost of 11 crore as part of our commitment to eliminate Lymphatic Filariasis in India alongside the World Health Organisation (WHO)," he added.
On Feb. 10, GlaxoSmithKline Pharmaceuticals closed at the Bombay Stock Exchange at Rs 3238.95, up Rs 13.85.
