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GlaxoSmithKline Pharmaceuticals took an 8 per cent hit in its bottom-line due to increase in expenses, including raw-material, promotional and personnel, an analyst said.
While the company posted a 4 per cent growth in sales, expenses grew by 16 per cent, said Mr Ranjit Kapadia, Centrum Broking's Senior Vice-President. Raw material costs increased by 13 per cent, personnel expenses grew by 16 per cent and other expenses, including promotional and marketing costs, went up by 22 per cent, he told Business Line .
GSK Pharma's core business grew by 7 per cent, the company said.
GSK Pharma Table
Dr Hasit B. Joshipura, Managing Director, said in a statement: “The mass market businesses and anti-infectives were impacted by a relatively lower growth of the market and a high base effect. The ramp-up in field force during the course of the year has impacted costs.”
The vaccine and speciality franchises continued to register strong double-digit growth in segments such as dermatology, oncology, cardiovascular and metabolic, the company said.
GSK Pharma shares were up 0.98 per cent on the BSE, at Rs 2,109, on Friday.
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