GSK Pharma declares financial results for quarter ended March 31, 2024

Mumbai: GlaxoSmithKline (GSK) Pharmaceuticals Limited has 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.”

GlaxoSmithKline Pharmaceuticals Limited is a subsidiary of GSK plc, a global healthcare company.

Read also: GSK application for expanded indication of Jemperli plus chemotherapy accepted by USFDA for priority review