GlaxoSmithKline Pharma has reported a net loss of Rs 55 crore 4 Q4

GlaxoSmithKline Pharmaceuticals reported a consolidated net loss of Rs 55 crore in the fourth quarter on Monday.

The pharmaceutical company has made a net profit of Rs 4 crore in the January-March quarter of the 2020-21 financial year.

GlaxoSmithKline Pharmaceuticals said in a regulatory filing that revenue from operations increased to Rs 810 crore in the fourth quarter from Rs 744 crore in the year-ago period.

For the year ended March 31, 2022, the company posted a consolidated net profit of Rs 381 crore on FY21 as against Rs 287 crore.

In the last financial year, the revenue from operations has increased from Tk 2,926 crore in 2020-21 to Tk 3,278 crore.

“Over the years, our general pharmaceutical portfolios continue to gain market share in their respective segments. Our effective focus on key brands has helped us revitalize growth, especially in the anti-infectives, dermatology and pain departments, “said Sridhar Venkatesh, managing director, GlaxoSmithKline Pharmaceuticals.

Although the company’s vaccine business has been affected by low vaccination rates, many key brands have gained a growing market share, driven by streamlined performance, he added.

“We continue to lead the market in the private vaccine market,” Venkatesh noted.

During the quarter, the company completed the transfer of the Iodex and Ostocalcium brands to GlaxoSmithKline Asia as part of GSK plc’s plans to build two world-class companies in pharmaceuticals and consumer healthcare, he said.

The company said that its board has recommended a dividend of Rs 90 per share with a face value of Rs 10 per share for the year ended March 31, 2022, with a special dividend of Rs 60 per share.