GlaxoSmithKline's Q3 net at Rs 80.90 cr

New Delhi, Feb 22 (UNI) GlaxoSmithKline Pharmaceuticals Ltd today said its net profit increased at Rs 80.90 crore for the quarter ended December 31, 2007 as compared to Rs 67.79 crore for the corresponding period last year.

Total income for the third quarter ended December 31, 2007 rose to Rs 367.94 crore from last year's Rs 342.43 crore, a company statement said.

For the year ended December 31, 2007, the company's net profit has declined at Rs 537.66 crore from last year's Rs 545.51 crore.

The total income for the same period rose to Rs 1,666.98 crore as against last year's Rs 1,622.85 crore.

The Group posted a marginal decline in its net profit to Rs 547.55 crore for the year ended December 31, 2007 as compared to Rs 551 crore same period last year.

The Group's total income for the same period, however, saw an increase to Rs 1,701.08 crore from last year's Rs 1,652.47 crore.

The growth in sales (excluding the animal health and fine chemicals businesses) was 7.8 per cent for the year ended December 31, 2007 on a comparable basis.

The growth in sales and profits was primarily driven by sales of priority products which registered a double digit growth, improvement in the gross margin and expense control.

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 and of the Animal Health business on July 31, 2006.

The company has also recommended the payment of a dividend of Rs 18 per equity share for the year ended December 31, 2007 and the directors also recommend a special additional dividend of Rs 18 per equity share.

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