Posted by : Varun Doshi
On : 18 April 2014
Comments : 2
Views : 1529
GlaxoSmithKline (GSK) Pharmaceuticals, a Rs.2,500 crore plus MNC, suffered heavy setback during the first quarter ended March 2014 as its net profit declined sharply by 42.9 per cent to Rs.96.54 crore from Rs.169.01 crore in the corresponding period of last year. Its net sales also declined by 5.1 per cent to Rs.600 crore from Rs.632 crore. With lower net profit, its EPS declined to Rs.11.4 as against Rs.20 in the last period.
GlaxoSmithKline scrip declined by Rs.23.15 after the announcement of financial results to Rs.2484.95 in the afternoon session. The scrip touched to its yearly peak level at Rs.3054.40 on March 3, 2014.
The company's EBDITA declined by 37.7 per cent to Rs.152.48 crore from Rs.244.58 crore in the similar quarter of last year.
According to the company, this was largely on account of the revamped Price Control Order, extending coverage to the National List of Essential Medicines (NLEM). Today, 29 per cent of its products, by value, come under the NLEM and that is shown up in the results.
The company follows calender year (ie. Jan-Dec) as it's financial year.