GlaxoSmithKline Consumer Healthcare Ltd disclosed a 16.62 per cent fall in standalone net profit at Rs 183.72 crore for the 2nd quarter ended September 30, 2016. The company had clocked a standalone net profit of Rs 220.34 crore in the corresponding quarter of the last financial year, GSK Consumer mentioned in their BSE filing. Net sales during the quarter under review is seen at Rs 1,135.6 crore as compared to Rs 1,151.06 crore in the year-ago period, down 1.34 per cent. The reported net sales decline of 1.3 per cent was affected because of one off accounting adjustment sitting in the base and impact of change in accounting standard (IndAS).
Manoj Kumar, GSK Consumer Managing Director commented on the performance saying that in spite of the subdued demand in the FMCG sector, they have gained share in the HFD (health food drink) category. They continue to improve consumer's experience with new products namely Horlicks Marie, the biggest launch in the foods category. He said the company is emphasizing on its access strategy with the re-launch of Rs 5 pack of base Horlicks and Boost in order to ensure that its products are within the easy reach of a larger consumer base. Focus on science, innovation and customer stays their chief differentiator and helps them to stay ahead in the category. The outlook for the upcoming quarters remains positive.
Last day, i.e on 7th Nov, GSK Consumer share price settled at Rs 5741 on NSE. The stock was trading at Rs. 5750, down by 3 per cent. The stock touched the day’s high and low at Rs. 5908.65 and Rs. 5712.50, respectively.
GSK Consumer is analyzed by Dynamic Levels as the top 500 performing stocks for this quarter among the 1700 stocks which are listed on the NSE
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