GlaxoSmithKline Shares Surge 16% on Strong Q3 Earnings
GlaxoSmithKline Pharmaceuticals shares jumped 16% after reporting a five-fold increase in net profit for the third quarter, reaching Rs 229 crore. The strong performance was driven by increased revenue and a commitment to innovative healthcare solutions.
New Delhi, Feb 17 (PTI) Shares of GlaxoSmithKline Pharmaceuticals on Monday surged nearly 16 per cent after the firm's net profit increased over five-fold to Rs 229 crore for the third quarter ended December 31, 2024.
The stock jumped 15.59 per cent to settle at Rs 2,332.25 on the BSE. During the day, it zoomed 20 per cent to Rs 2,421.30.
At the NSE, it soared 15.90 per cent to Rs 2,339.
The drug firm reported a net profit of Rs 45 crore for the October-December quarter of last fiscal.
Revenue from operations rose to Rs 949 crore for the third quarter, as compared to Rs 805 crore in the year-ago period, GlaxoSmithKline Pharmaceuticals said in a statement on Friday.
"Our strong third-quarter results reflect our unwavering commitment to deliver innovative healthcare solutions to patients across India," GlaxoSmithKline Pharmaceuticals MD Bhushan Akshikar stated.
The stock jumped 15.59 per cent to settle at Rs 2,332.25 on the BSE. During the day, it zoomed 20 per cent to Rs 2,421.30.
At the NSE, it soared 15.90 per cent to Rs 2,339.
The drug firm reported a net profit of Rs 45 crore for the October-December quarter of last fiscal.
Revenue from operations rose to Rs 949 crore for the third quarter, as compared to Rs 805 crore in the year-ago period, GlaxoSmithKline Pharmaceuticals said in a statement on Friday.
"Our strong third-quarter results reflect our unwavering commitment to deliver innovative healthcare solutions to patients across India," GlaxoSmithKline Pharmaceuticals MD Bhushan Akshikar stated.
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