Glaxo’s net profit has more than doubled to Rs 295.2 m in the second quarter of the current year as compared to Rs 145.1 m in the corresponding quarter of last year. While other income amounted to Rs 110 m (vis-à-vis Rs 112.3 m in the last year), the company earned Rs 105 m on the sale of brands.
Operating Profit (EBDIT)
Operating Profit Margin (%)
Profit before Tax
Profit after Tax/(Loss)
Net profit margin (%)
No. of Shares (m) (eoy)
Diluted no. of shares (m)
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The company’s turnover has also grown by an impressive 27.92% at Rs 2867.8 m in the second quarter as against Rs 2241.8 m in the corresponding quarter of the last year. This looks impressive when justaposed against a 20% topline growth for Cipla and an 18% growth for Nicholas Piramal. The company's operating margins have also registered an impressive increase.
The stock quotes at a price of Rs 436, which implies an earnings multiple of 15 times its annualised earnings of calendar year 2000. If one were to exclude the entire Rs 105 m earned from the sale of its brands, still, Glaxo's second quarter bottomline has grown by an impressive 43% (as compared to the second quarter last year). If one were to take this into account the stock quotes at an earning multiple of 20 times.
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