Shares of GlaxoSmithKline Pharmaceuticals (GSK Pharma) hit a fresh 52-week high at Rs 1,797, rallying 11 per cent on the BSE in Thursday’s intra-day trade on improved business outlook. The drug maker’s stock has surpassed its previous high of Rs 1,766 touched on July 27, 2021. It had hit a record high of Rs 1,925 on March 31, 2016.
In the past month, GSK Pharma has outperformed the market by surging 22 per cent, after the company reported a robust set of numbers for the quarter ended September 2021 (Q2FY22). In comparison, the S&P BSE Sensex was down 4 per cent.
In Q2FY22, the company’s standalone profit before tax or PBT (before exceptional) grew 42 per cent year on year (YoY) to Rs 271 crore from Rs 191 crore in a year-ago quarter. Revenue rose 13 per cent YoY at Rs 992 crore. Earnings before interest, taxes, depreciation, and amortization (Ebitda) margin improved 430 basis points to 27.62 per cent from 23.32 per cent in Q2FY21.
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The management expects this positive momentum to continue through the second half of the year driving the company towards the better end of a meaningful performance improvement.
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