Hit by Strike, GSK Consumer Suspends Ops at Punjab Plant
New Delhi : GlaxoSmithKline Consumer Healthcare has suspended operations temporarily at its factory in Nabha Patiala in Punjab effective 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.
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 per cent decline in its stand alone 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 per cent, from Rs 1,165.1 crore in the same period last fiscal.
For the full fiscal, GSK's stand-alone net profit rose 17.7 per cent to Rs 686.9 crore as against Rs 583.6 crore in 2014-15.
However, its net sales declined 0.72 per cent to Rs 4,106.6 crore in 2015-16, from Rs 4,136.4 crore a year ago.
The stock is trading 0.11 per cent higher at Rs 5,820 on BSE at 1156 hours.