Rs 32/Share Dividend Approved: Pharma Major Declares 45.75% Jump In Net, Shares Rise 11.59%

Large cap company Glaxosmithkline Pharmaceuticals Ltd. share zoomed 11.59% in trade today to 2258.45 per share on BSE. The company today declared a jump of 17.73% in its consolidated total income for the March 2024 quarter at Rs 959.63 crore as against Rs 815.11 crore reported in the corresponding quarter of last year. The Board of Directors also recommended a dividend of Rs 32/share. The consolidate net profit for March 2024 quarter surged by 45.75% to Rs 194.48 crore. The company has a market capitalisation of Rs 38,244.26 crore. More details below:

Glaxosmithkline Pharmaceuticals Results: The company declared a surge of 45.75% in its consolidated net profit for the March 2024 quarter to Rs 194.48 crore as against Rs 133.43 crore announced in the similar quarter of last year. Meanwhile, total expense for the quarter under consideration declared at Rs 691.41 crore from Rs 635.54 crore. The EPS for March 2024 quarter came at 11.48 from 7.88 in March 2023.

Profit before tax for March 2024 quarter declared at Rs 270.62 crore from Rs 189.97 crore declared in March 2023 quarter. The pharma company declared its consolidated Revenue from operations at Rs 929.80 crore for March 2024 quarter from Rs 787.45 crore in March 2023.

Glaxosmithkline Pharmaceuticals Recommends Dividend: As per the BSE filing of the company dated today, "The Board has recommended a dividend of Rs. 32/- per equity share on face value of Rs.10 each for the year ended 31st March 2024, subject to approval of members at 99th Annual General Meeting."

Glaxosmithkline Pharmaceuticals Sets Record Date For Dividend: The exchange filing added, "The Company has fixed Friday, 31 st May 2024, as the Record Date for determining entitlement of members to final dividend for the financial year ended 31st March,2024. If the final dividend as recommended by the Board of Directors is approved at the AGM, payment of such dividend, subject to deduction of tax at source, will be made on and after Monday, 1st July 2024."

Glaxosmithkline Pharmaceuticals Share Performance: The 52-week high price of Glaxosmithkline Pharmaceuticals share on BSE is Rs 2649.95 per share (as on 09/02/2024) and 52-week low price is Rs 1265.00 per share (as on 18/05/2023). Glaxosmithkline Pharmaceuticals shares gained 15.50% in last 1-week only, zoomed 20% in last 1-month span, gained 45% in last 6-months, rose 76% in last 1-year, and offered 79% return in last 5-years.

Upcoming AGM: The Board of Directors has fixed Frida1y, June 28, 2024 as the date of the 99th Annual General Meeting ("AGM") of the Company through Video Conferencing / Other Audio Visual Means in accordance with the relevant circulars issued by Ministry of Corporate Affairs and Securities and Exchange Board of India.

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