Profit before tax stood at Rs 65.43 crore for the quarter, down by 70.82% as compared to Rs 224.25 crore recorded in Q3 FY23.

The pharma company’s EBITDA margin stood at 27% during the quarter.

On nine-month basis, the company recorded 17.14% YoY decline in consolidated profit to Rs 395.48 crore in 9M FY24. Revenue from operations increased 2.42% to Rs 2,523.91 crore in 9M FY24 from Rs 2,464.27 crore posted in the corresponding period previous year.

The drug maker stated that in flat general medicines represented market during the quarter; GSK recorded 1% value growth despite the NLEM impact. Augmentin improved its market share and retained no. 1 rank in the IPM (Indian Pharmaceutical Market). Vaccines market and portfolio continued to deliver sequential growth.

GSK added that it will continue to invest in building newer capabilities to improve reach and access for its innovative portfolio comprising Shingrix, Nucala and Trelegy.

Bhushan Akshikar, managing director, GlaxoSmithKline Pharmaceuticals said, "We remain committed to new category development in areas like Adult Immunization with products like Shingrix to make a positive impact to the lives of the patients in India. We will continue to drive operational efficiency and explore new innovative solutions including Omnichannel Strategy to expand reach and coverage to the target segments.”

GlaxoSmithKline Pharmaceuticals is a subsidiary of GlaxoSmithKline plc, one of the world's leading research-based pharmaceutical and healthcare companies.