GSK Consumer Suspends Punjab Plant Operations

New Delhi: GlaxoSmithKline Consumer Healthcare has suspended operations temporarily at its factory in Nabha Patiala in Punjab effective 21 May following disruptions created by its workforce. "Due to certain disruptions created by the workforce/flash strike... the management of the company has decided to suspend operations temporarily at its factory located at Nabha Patiala - 147201 with effect from the night of May 21, 2016," GSK Consumer Healthcare said in a BSE filing on Monday. The company added that it took the step "in the interest of safety and security of its employees and to protect the assets of the factory". Last week, GlaxoSmithKline (GSK) Consumer Healthcare reported an 8.18% decline in its standalone net profit for the March quarter at Rs.180.7 crore. The company had posted a net profit of Rs.196.8 crore for the corresponding period a year ago. Net sales during the period under review was Rs.1,052.8 crore, down 9.63%, from Rs.1,165.1 crore in the same period last fiscal. For the full fiscal, GSK's standalone net profit rose 17.7% to Rs.686.9 crore as against Rs.583.6 crore in 2014-15. However, its net sales declined 0.72% to Rs.4,106.6 crore in 2015-16, from Rs.4,136.4 crore a year ago. The stock is trading 0.11% higher at Rs.5,820 on BSE at 11.56 am.  

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