GlaxoSmithKline Pharma posts net loss at Rs 55 crore in Q4
The company's vaccines business was impacted due to low vaccination rates, many of the key brands gained share in a declining market, fuelled by disciplined execution, Sridhar Venkatesh said.
New Delhi: GlaxoSmithKline Pharmaceuticals on Monday reported a Rs 55 crore consolidated net loss from continuing operations for the fourth quarter. The drug firm had reported a net profit of Rs 4 crore for the January-March quarter of the 2020-21 fiscal.
Revenue from operations rose to Rs 810 crore for the fourth quarter compared to Rs 744 crore in the year-ago period, GlaxoSmithKline Pharmaceuticals said in a regulatory filing.
For the year ended March 31, 2022, the company posted a consolidated net profit from continuing operations at Rs 381 crore against Rs 287 in FY21.
Revenue from operation last fiscal increased to Rs 3,278 crore from Rs 2,926 crore in 2020-21.
"During the year, our general medicines portfolio continued to gain market share in their respective categories. Our execution focus on key brands helped us revitalise growth, particularly in the anti-infectives, dermatology and pain segments," GlaxoSmithKline Pharmaceuticals Managing Director Sridhar Venkatesh said.
While the company's vaccines business was impacted due to low vaccination rates, many of the key brands gained share in a declining market, fuelled by disciplined execution, he added.
"We continue to maintain market leadership in the private vaccines market," Venkatesh noted.
During the quarter, the company concluded the transfer of Iodex and Ostocalcium brands to GlaxoSmithKline Asia, as part of GSK plc's plans to create two world-class companies in pharmaceuticals and consumer healthcare, he stated.
The company said its board recommended a dividend of Rs 90 per share, including a special dividend of Rs 60 per share of the face value of Rs 10 each for the year ended March 31, 2022.
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