GlaxoSmithKline net profit up 18

Net sales of the company stood at Rs 566.03 crore for the quarter as against Rs 490.63 crore for the corresponding period last fiscal.

In another filing to BSE,the company8217;s board has recommended a dividend of Rs 45 per equity share for the year ended December 31,2011.

The quarter saw the launch of Synflorix,a vaccine against invasive pneumococcal disease,the leading cause of childhood mortality in India,the company said.

This infection can result in pneumonia,infection of the blood ,middle-ear infection or bacterial meningitis.

Commenting on the performance GlaxoSmithKline Pharmaceuticals MD Hasit B Joshipura said: 8220;Growth for the quarter was market competitive,driven by a revival in the anti-infective and mass markets segment.8221;

8220;Our speciality business continued to register good growth aided by the launch of products from our global pipeline and branded generics. The vaccine business showed a high growth trajectory,with the Company continuing to expand its vaccine portfolio,he added.

For the year ended December 31,2011,the company8217;s standalone net profit declined to Rs 430.60 crore against Rs 563.69 crore in 2010.

Net sales of the company stood at Rs 2,338.03 crore for the year under consideration against Rs 2,111.64 crore last year.

Consolidated net profit of the company declined to Rs 428.58 crore for the year ended December 31,2011 from Rs 560.57 crore for the year ended December 31,2010.

Consolidated net sales of the company stood at Rs 2,378.48 crore for the year under consideration as against Rs 2151.05 crore for the same period ended December 31,2010.

GlaxoSmithKline Pharmaceuticals is a subsidiary of GlaxoSmithKline plc,one of the world8217;s leading research-based pharmaceutical and healthcare companies.

Shares of GlaxoSmithKline Pharmaceuticals were today trading at Rs 2,087.95 on the BSE,down 1.19 per cent from its previous close,in afternoon trade.