(Reuters) -India’s GlaxoSmithKline Pharmaceuticals reported slightly higher second-quarter profit on Thursday, led by steady demand for its specialty medicine portfolio.
The Indian unit of British drugmaker GSK reported consolidated profit of 2.57 billion rupees ($29 million) in the quarter ended September 30, up 2% from last year.
Its revenue from operations decreased 3% to 9.8 billion rupees, down for a second quarter in a row.
KEY CONTEXT
GlaxoSmithKline Pharma, an industry leader in pediatric vaccines, is making inroads into the adult vaccine market with its shingles vaccine Shingrix, which has boosted earnings.
Supply constraints and the transitory impact of GST changes impacted pharma sales in the quarter, the company highlighted.
While the company’s key brands such as antibiotic Augmentin and respiratory drugs Nucala and Trelegy have seen strong demand, a fire in one of GlaxosmithKline India’s manufacturing plants in May affected supply of its pediatric paracetamol brand Calpol.
In August, GlaxoSmithKline Pharma’s stock recorded its sharpest fall in five years after it reported its first quarterly profit decline since 2023. The stock recovered slightly after GlaxoSmithKline entered the Indian cancer care market later that month with two oncology drugs.
Peer Aurobindo Pharma recorded a quarterly profit rise on Wednesday.
PEER COMPARISON
Valuation (next 12 Estimates Analysts
months) (next 12 ‘
months) sentimen
t
RIC PE EV/EBI Price/ Revenue profit Mean # of Stock to Div
TDA Sales growth growth rating analyst price target yield
s (%)
GlaxoSmithKline GLAX.NS 40.86 30.33 NULL 10.03 11.27 BUY 4 0.86 1.58
Pharmaceuticals Ltd
Pfizer Ltd PFIZ.NS 30.14 23.12 NULL 7.61 15.87 BUY 2 0.84 0.68
Aurobindo Pharma Ltd ARBN.NS 16.16 9.03 1.83 8.33 11.71 BUY 26 0.87 0.35
Abbott India Ltd ABOT.NS 37.03 28.01 NULL 8.04 12.40 STRONG 6 0.82 1.62
BUY
JUNE-SEPTEMBER STOCK PERFORMANCE
— All data from LSEG
— $1 = 87.0650 Indian rupees
(Reporting by Abhirami G from Bengaluru)
