GlaxoSmithKline Pharma Q3 net profit dips 72% to Rs 46 cr

GlaxoSmithKline Pharmaceuticals on Monday said its consolidated net profit declined 72 percent to Rs 46 crore for the December quarter. The drug firm had reported a net profit of Rs 165 crore in the year-ago period.

Total income increased to Rs 833 crore for the third quarter of the current fiscal as compared with Rs 826 crore in the year-ago period, GlaxoSmithKline Pharmaceuticals said in a statement.

"We remain committed to new category development in areas like adult immunisation with products like Shingrix to make a positive impact to the lives of the patients in India," GlaxoSmithKline Pharmaceuticals MD Bhushan Akshikar said.

The company would continue to drive operational efficiency and explore new innovative solutions, including omnichannel strategy, to expand reach and coverage to the target segments, he added. Shares of the drugmaker declined 1.91 per cent to Rs 2,334.20 apiece on the BSE on Monday.