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India's GlaxoSmithKline Pharmaceuticals reported a higher second-quarter adjusted profit on Tuesday, driven by strong demand for its generic drugs and vaccines.

The Indian unit of British drugmaker GSK said its consolidated profit before tax rose to 3.44 billion rupees ($41 million) in the July-September quarter, from 2.99 billion rupees year ago.

The latest quarter included a 46.9-million-rupee gain on the sale of some residential properties.

Its revenue from operations climbed 5.6% to 10.11 billion rupees in the period.

For further results highlights, click.

KEY CONTEXT

GlaxoSmithKline Pharma continued to benefit from rising market share for its antibiotic Augmentin and respiratory drugs Nucala and Trelegy. Moreover, rising demand for its vaccine for shingles has also boosted earnings, the company said.

Growth in these aspects has also helped the company in mitigating the impact of pricing curbs on some of its drugs that were added to the Indian government's essential medicines list (NLEM) since September 2022.

PEER COMPARISON

Estimates (next 12 Analysts' sentiment

months)

RIC PE EV/EBIT Revenue Profit Mean # of Stock to Div

DA growth (%) growth rating* analysts price yield

(%) target** (%)

GlaxoSmithKline 48.63 36.18 9.25 34.44 Buy 4 0.91 1.21

Pharma

Abbott India 42.11 32.87 9.58 12.73 Strong 4 0.94 1.44

Buy

Pfizer Ltd 33.84 27.18 7.85 16.75 Buy 3 0.89 0.66

Aurobindo Pharma 19.41 11.28 9.56 17.72 Buy 26 0.91 0.31

* Mean of analysts' ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell

** Ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above the PT

JULY TO SEPTEMBER STOCK PERFORMANCE

-- All data from LSEG

-- $1 = 84.0280 Indian rupees