GlaxoSmithKline Pharma net at Rs 121.27 cr

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New Delhi, Apr 21 (UNI) Pharma major GlaxoSmithKline Pharmaceuticals Ltd today said its net profit increased to Rs 121.27 crore for the first quarter ended March 31, 2008 compared to Rs 111.32 crore in the corresponding quarter last year.

The total Income has increased to Rs 452.21 crore for the first quarter ended March 31, 2008 from Rs 441.46 crore in the same period last year.

The growth in Net Sales (excluding the Fine Chemicals business) was 5.3 per cent during the quarter ended March 31, 2008.

''This performance must be viewed in the context of pipeline inventory adjustments in March 2008 on account of excise-related price changes,'' a company statement said.

The figures for the current period are not comparable with those of the previous period, in view of the sale of the Fine Chemicals business on September 30, 2007.

UNI BJR PBB KN1518

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