GSK Pharma Q2 profit at Rs 503 cr

GlaxoSmithKline Pharmaceuticals (GSK Pharma) on Tuesday reported a consolidated net profit of Rs 502.75 crore for the quarter ended September 30, 2019, mainly on account of exceptional items. The company had posted a profit of Rs 100.83 crore for the year-ago period, GSK Pharma said in a filing to BSE.

Revenue from operations stood at Rs 882.02 crore for the quarter under review as against Rs 816.31 crore in the same period a year ago. The company had recognised exceptional items of Rs 401.14 crore for the September quarter of 2019-20. These include gain on sale of land of Rs 545.19 crore; charge on account of impairment of assets of Rs 26.31 crore; Rs 110.74 crore relating to product recall and others of Rs 7 crore, the company said. Shares of GSK Pharma settled at Rs 1,469.15 apiece, up 2.01 per cent on the BSE.

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