GSK Consumer Q2 Net Profit Down 16.62%, Stock Stumbles

GlaxoSmithKline Consumer Healthcare   Ltd disclosed a 16.62 per cent fall in standalone net profit at Rs 183.72 crore for the 2^nd 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 7^th 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

In order to know about the support and resistance levels of the scrip and also its fundamentals and financials, please a pay a visit to GSK Consumer share price history.

GSK will sell Anesthetics to Aspen for $370 million

GSK Consumer will sell its portfolio of anesthetic drugs to South Africa's Aspen Pharmacare for 280 million pounds ($372 million) as part of a drive initiated by the British drugmaker to focus on core therapy areas. The two firms, have a long history of working together, reported on Monday that Aspen would pay sum amouting to 180 million pounds for the products Ultiva, Tracrium, Nimbex, Anectinein and Mivacron, also up to 100 million pounds in milestone payments. GSK Consumer, which had previously sold the U.S.and Canadian rights to the drugs, earned approximately 35 million pounds from the anaesthetics in the first half of 2016. Aspen is also acquiring rights to the remaining GSK thrombosis drug portfolio, whereas the two companies have decided to end a broader collaboration in sub-Saharan Africa. The South African group obtained most of the thrombosis drug rights in 2013, but GSK had maintained certain territories, including China, India and Pakistan.

GSK Consumer share price went down 0.46%. The stock opened at Rs. 6100 as compared to its previous closing at Rs. 6128.35. The stock touched the days high and low at Rs. 6150 and Rs.6080. Today’s trading session saw 14,087 shares are traded in the counter with a traded value of Rs. 859.48, as per NSE.

GSK Consumer share price is one of the top 500 performing stocks for this quarter owing to its strong fundamentals. The 52 week high of is observed at Rs. 6,800.00 on 23^rd Dec ’15 while the 52 week low is seen at Rs. 5,405.00 on 1^st March ‘16. The market cap of the company amounts to Rs. 25773.11 (Cr)  and has a book value of Rs. 581.52. In order to acquire further details on the support and resistance refer to GSK Consumer share price forecast.