GlaxoSmithKline Pharmaceuticals Limited today announced its financial results for the quarter ended March 31, 2024, showcasing robust performance and strong double-digit growth across key metrics.
For the quarter, GSK Pharmaceuticals recorded revenue of Rs. 911 crores, marking an impressive growth of 16% compared to the same period last year. Profit before exceptional items and tax stood at Rs. 266 crores, demonstrating a remarkable growth of 51%, with EBITDA margins reaching 28%.
The full-year reported revenue amounted to Rs 3407 crores, representing a growth of 6%. Despite challenges posed by the National List of Essential Medicines (NLEM) impact, the company showcased positive growth driven by a strong volume recovery. Profit before exceptional items and tax for the year reached Rs. 953 crores, reflecting a growth of 14%, with EBITDA at 26.4%, up by 150 basis points.
Bhushan Akshikar, Managing Director of GlaxoSmithKline Pharmaceuticals Limited, commented on the impressive results, stating, “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 a strong double-digit growth of 12%, driven by key focus brands Augmentin, Ceftum, and Calpol.”
He further added, “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 the highest patient recruitment in Q4.”
The vaccines business also witnessed significant growth, with a 35% increase in Q4. Akshikar highlighted the success of the launch of Shingrix (Zoster Vaccine Recombinant, Adjuvanted) and the company’s innovative go-to-market strategies driving expansion in the Adult Immunisation category in India.
As GSK approaches its centennial milestone in India on November 12th, 2024, Akshikar emphasized the company’s commitment to serving the people of India and enhancing the quality of lives. “For 100 years, we have earned the trust of generations by consistently delivering high-quality medicines and vaccines,” he stated, highlighting GSK’s rich heritage and unwavering dedication to healthcare.
