GSK Pharma net up at Rs138.5 cr; proposes 500 per cent dividend

GlaxoSmithKline Pharmaceuticals has reported a net profit of Rs138.51 crore for the quarter ended 31 December 2012, a marginal (1.29 per cent) rise from the Rs136.74 crore net profit in the corresponding period of the previous fiscal.

Net sales of the company stood at Rs656.69 crore against Rs566.03 crore in the previous-year quarter, GSK Pharma said in a release today.

The board of directors of the company recommended a dividend of Rs50 per equity share (500 per cent) for the year against Rs45 per share paid in the previous year.

If approved by the shareholders at the annual general meeting, the dividend payout will absorb Rs424 crore.

GSK Pharma said the company would bear the dividend distribution tax amounting to Rs64 crore.

The core pharmaceuticals business grew by 15.9 per cent during the quarter.