This Article is From Nov 08, 2016

GlaxoSmithKline Consumer Healthcare Q2 Net Dips 17%

GlaxoSmithKline Consumer Healthcare Q2 Net Dips 17%

New Delhi: GlaxoSmithKline Consumer Healthcare Ltd reported 16.62 per cent decline in standalone net profit at Rs 183.72 crore for the second quarter ended September 30, 2016. 

The company had posted a standalone net profit of Rs 220.34 crore in the same quarter last fiscal, GlaxoSmithKline Consumer Healthcare Ltd (GSKCH) said in BSE filing. 

Net sales during the quarter under review stood at Rs 1,135.6 crore as against 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 got impacted due to one off accounting adjustment sitting in the base and impact of change in accounting standard (IndAS)," it said. 

Commenting on the performance, GSKCH Managing Director Manoj Kumar said, "Despite the subdued demand in the FMCG sector, we have gained share in the HFD (health food drink) category. We continue to improve consumer's experience with new products like Horlicks Marie, our biggest launch in the foods category." 

He said the company is emphasising on its access strategy with the re-launch of Rs 5 pack of base Horlicks and Boost to ensure that its products are within the easy reach of a larger consumer base. 

"Focus on science, innovation and customer, remains our key differentiator and helps us to stay ahead in the category. 

Our outlook for the upcoming quarter's remains positive," Kumar added.

(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)