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Stock Report
GlaxoSmithKline Pharmaceuticals to sell Animal Health Business, recommends Rs.17 dividend
Posted On : 2007-02-17 11:37:13( TIMEZONE : IST )
GlaxoSmithKline Pharmaceuticals Ltd has announced the following results for the quarter & year ended December 31, 2006:
The Unaudited results for the quarter ended December 31, 2006:
The Company has posted a net profit of Rs 677.90 million for the quarter ended December 31, 2006 where as the same was at Rs 423.80 million for the quarter ended December 31, 2005. Total Income (net of excise) is Rs 3502.10 million for the quarter ended December 31, 2006 where as the same was at Rs 3442.70 million for the quarter ended December 31, 2005.
The Audited results for the year ended December 31, 2006:
The Company has posted a net profit of Rs 5455.10 million for the year ended December 31, 2006 where as the same was at Rs 5020.80 million for the year ended December 31, 2005. Total Income (net of excise) is Rs 16487.60 million for the year ended December 31, 2006 where as the same was at Rs 15509.40 million for the year ended December 31, 2005.
The Audited Consolidated results for the year ended December 31, 2006 are as follows:
The Group has posted a net profit of Rs 5510.00 million for the year ended December 31, 2006 where as the same was at Rs 5071.40 million for the year ended December 31, 2005. Total Income (net of excise) is Rs 16783.80 million for the year ended December 31, 2006 where as the same was at Rs 15846.00 million for the year ended December 31, 2005.
The Board of Directors, at its meeting held on April 28, 2006, approved the proposal for sale of the Animal Health business as a going concern to Virbac Animal Health India Pvt Ltd for a total consideration of Rs 2071.00 million. Shareholders of the Company approved the proposal by postal ballot on June 26, 2006. The sale has been completed effective from the close of business hours of July 31, 2006 at a profit of Rs 1870.30 million. According, figures for the current year are to that extent not comparable with those of the previous year. Animal Health business forms part of the Company's Other Businesses' segment.
Further the Company has informed that, the Board of Directors recommends a Dividend of Rs 17 per equity share (Previous year Rs 14 per equity share) and a special additional Dividend of Rs 14 per equity share (Previous year Rs 14 per equity share).
