GSK Pharma's Net Profits Rise By Over 9%, Revenue Falls By 1.5% YoY In Q4FY23

GlaxoSmithKline Pharmaceuticals on Wednesday announced its earnings for the fourth quarter and full year FY23. The company's consolidated revenue recorded a slight fall in Q4FY23 by 1.5 per cent year on year (YoY) to Rs 828 crore and by 0.03 per cent for FY23 to Rs 3,352 crore compared with Rs 825 crores in Q4FY22 and Rs 3,353 in FY22 respectively.

The pharmaceutical company's Profit After Tax (PAT) jumped by 9.9 per cent YoY in Q4FY23 to Rs 133 crores from Rs 121 crores in the same quarter of the previous year whereas for FY23 the PAT dropped by 63 per cent to Rs 610 crores against Rs 1,694 crores in FY22. 

The company's expenses rose by 16 per cent YoY to Rs 635 crores against Rs 590 crores recorded in the March quarter of the previous year. Overall in FY23, the expenses fell by 2.3 per cent to Rs 2,515 from Rs 2,586 crores.

Bhushan Akshikar, Managing Director, GlaxoSmithKline Pharmaceuticals said, “GSK remains focused on gaining share and defending leadership position of key brands for therapies in which we operate. With the launch of our global blockbuster Shingrix we expect to address an unmet preventive health need and gain momentum for our vaccines business.”