GSK's Net Profit Rises By 13% YoY In June Quarter

GlaxoSmithKline Pharmaceuticals(GSK) on Wednesday declared its financial results for the quarter ended June 30, 2023. Revenue from operations for the quarter grew by 1 per cent to Rs 738 crores. The company maintained its gross margins despite the National List of Essential Medicines (NLEM) impact, while EBITDA margins declined 1 per cent on account of new product launch investments led by Shingrix. 

Profit After Tax (PAT) for the quarter stood at Rs 131 crores growing by 13 per cent YoY. During the quarter, the company delivered a robust volume growth of 8 per cent for its key promoted portfolio with market share gains. This along with the implementation of WPI price increases, has helped offset the NLEM impact. 

In addition, GSK’s vaccines business has now demonstrated a sequential Q-o-Q increase and maintained leadership in the private self-pay market. Aligned with our purpose of providing access to our innovative portfolio, GSK successfully launched Shingrix, a vaccine for the prevention of Herpes Zoster (shingles) and Post-herpetic neuralgia in adults aged 50 years and above, marking the company's entry in this important adult immunisation category. 

Bhushan Akshikar, Managing Director, GlaxoSmithKline Pharmaceuticals, said, "Despite the strong external headwinds, GSK remains focused on delivering best-in-class competitive performance and driving operational efficiencies. We remain committed to exploring new growth opportunities and improving our leadership in key therapy areas.”