GlaxoSmithKline Pharma net moves up by 10% in 2010, dividend at 400%

GlaxoSmithKline Pharmaceuticals, a leading MNC in India, has achieved satisfactory performance during the year ended December 2010 and stepped up equity dividend to 400 per cent as against 300 per cent in the previous year. The company's consolidated net profit increased by 10.4 per cent to Rs.560.57 crore from Rs.507.86 crore. It provided Rs.17.69 crore for revised gratuity limits and actuarial charge on post-retirement benefits as exceptional item during 2010 which impacted its bottom line.

Its consolidated net sales increased by 12.8 per cent to Rs.2151 crore from Rs.1908 crore. The other operating income went up by 65.4 per cent to Rs.30.98 crore from Rs.18.73 crore and it earned interest income of Rs.99.63 crore as compared to Rs.84.68 crore in the previous year. Its EBDITA improved by 14 per cent to Rs.789.62 crore from Rs.692.85 crore.

The company's standalone net profit increased by 10 per cent to Rs.563.69 crore from Rs.512.29 crore. GSK's standalone net sales increased by 12.9 per cent to Rs.2112 crore from Rs.1871 crore in the previous year. The pharmaceutical business grew by 14.3 per cent.

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