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GSK Pharma’s First Quarter Profit Drops 22%, Margins Decline
GSK Pharma Reports Muted First Quarter. Profit Drops 22%.
28 Jul 2016, 02:02 PM IST 
Inside GlaxoSmithKline Pharmaceuticals’ Albendazole facility in Nashik, India. (Photographer: Kuni Takahashi/Bloomberg)
GlaxoSmithKline Pharmaceuticals Ltd. reported a 22 percent drop in profit in the quarter ended June, while revenue came in line with analyst estimates.
Profit fell to Rs 72.27 crore from Rs 94 crore in the same quarter last year, the Indian subsidiary of GlaxoSmithKline Plc., said in its filing to the exchanges. This was worse than the Rs 108 crore consensus of analyst estimates compiled by Bloomberg.
Revenue grew 8 percent to Rs 685 crore, compared to the Bloomberg consensus estimate of Rs 699 crore.
The margin on earnings before interest, taxes, depreciation and amortisation contracted 430 basis points to 13.2 percent versus 17.5 percent in the same quarter last year.