GlaxoSmithKline Pharmaceuticals' Profits Soar with 5-Fold Increase

GlaxoSmithKline Pharmaceuticals' shares surged nearly 16% as net profit rose over five-fold to Rs 229 crore for Q3 2024. The stock reached Rs 2,332.25 on BSE and Rs 2,339 on NSE. Revenue increased to Rs 949 crore from Rs 805 crore in the previous year.

Shares in GlaxoSmithKline Pharmaceuticals soared nearly 16% on Monday after the company announced a significant increase in net profit for the third quarter ending December 31, 2024. The profit jumped over fivefold to Rs 229 crore, reflecting the company's strong performance.

On the Bombay Stock Exchange (BSE), GlaxoSmithKline's shares closed at Rs 2,332.25, a 15.59% increase, while they peaked at Rs 2,421.30 during the session. Similarly, the National Stock Exchange (NSE) saw a 15.90% rise with shares closing at Rs 2,339.

The pharmaceutical giant reported Rs 45 crore in net profit for the same quarter last year. Additionally, revenue from operations rose to Rs 949 crore, compared to Rs 805 crore in the previous year. MD Bhushan Akshikar attributed the strong results to the company's commitment to innovative healthcare solutions in India.

(With inputs from agencies.)