GlaxoSmithKline Pharmaceutical Limited Reports Strong Double-Digit Growth and improved profitability for the quarter
Q4 revenue growth at 16% and EBIDTA growth at 53%
Board of Directors of the Company recommends a Dividend of Rs. 32 per equity share for the 12 months period ended March 31, 2024
Mumbai, Maharashtra - GlaxoSmithKline (GSK) Pharmaceuticals Limited today declared financial results for the quarter ended March 31, 2024. Revenue for the quarter came in at Rs. 911 crores recorded a growth of 16%. Profit before exceptional items and tax for the quarter at Rs.266 crores recorded a growth of 51% with EBITDA margins at 28%.
The full year reported revenue was at Rs 3407 crores, a growth of 6%, demonstrating positive growth driven by a strong volume recovery thereby offsetting NLEM (National List of Essential Medicines) impact. Profit before exceptional items and tax for the year at Rs. 953 crores recorded a growth of 14% with EBITDA at 26.4% up by 150 bps.
Commenting on the results for Q4 and FY 2023-24, Bhushan Akshikar, Managing Director, GlaxoSmithKline Pharmaceuticals Limited, said, "For Q4, we delivered a strong double-digit growth and a robust performance across our General Medicines, Specialty and Vaccines portfolio. Our General Medicines portfolio recorded strong double-digit growth of 12% for the quarter, driven by key focus brands Augmentin, Ceftum and Calpol. Despite the NLEM impact in previous quarters, all promoted brands outpaced their respective categories in growth and gained market share.
Specialty portfolio led by Nucala and Trelegy has accelerated the momentum with highest patient recruitment in Q4.
For the vaccines business, over the last two quarters, we have seen a steady upswing in both adult and paediatric segments. This business delivered a Q4 growth of 35%. We continue to build on the momentum generated with the launch of Shingrix (Zoster Vaccine Recombinant, Adjuvanted) as we drive expansion of the Adult Immunisation category in India with innovative go-to-market (GTM) strategies.
We also remain committed to accelerating digital transformation to drive focused reach, coverage and seamless omni-channel experience for our customers."
GSK approaches its centennial milestone in India on November 12th, 2024, marking a remarkable century of commitment to enhancing and improving the quality of lives for millions in India. For 100 years, we have earned the trust of generations by consistently delivering high quality medicines and vaccines. This milestone not only honours our rich heritage but also underscores our unwavering dedication to serving the people of India through the decades.
About GlaxoSmithKline Pharmaceuticals Limited (GSK)
GlaxoSmithKline Pharmaceuticals Limited is a subsidiary of GSK plc, a science-led global healthcare company with a purpose to unite science, technology, and talent to get ahead of disease together. For more information, visit GSK-India.com.
Media Contact
Ransom D' Souza - ransom.a.dsouza@gsk.com
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