Glaxo net dips

MUMBAI, FEB 17: Glaxo India has registered an 11 per cent fall in net profit at Rs 77.06 crore for the year ended December 1999 as against Rs 86.63 crore in the previous year. Sales for the year increased by 11.5 per cent to Rs 885.50 crore. The Glaxo board has recommended a dividend of 40 per cent, plus a special additional one-time dividend of 20 per cent, taking the total to 60 per cent as against 50 per cent in the previous year. Burroughs Wellcome, on the other hand, has registered an increase in net profit at Rs 29.34 crore for the year ended December 31, 1999 as against Rs 24.90 crore against year.