Indian destocking hits GSK consumer health care business
Gurugram: GlaxoSmithKline (GSK) Consumer Healthcare Limited declared its financial results for the fourth quarter and full year ended March 31, 2017.
The fourth quarter recorded good performance with sales at Rs. 1,149 crores increase of 1.1% and PBT at Rs. 269 crores increase by 8% compared to last year for the same period.
For the full year, the reported sales at Rs. 4,209 crores decrease by 3.5% on account of demonetisation and PBT at Rs. 1,010 crores decrease by 4% compared to last year.
The Board of Directors of the Company recommended a Dividend at the rate of Rs. 70 per equity share of Rs. 10 each for the 12 month period ended March 31, 2017.
Commenting on the results, Manoj Kumar, Managing Director, GlaxoSmithKline Consumer Healthcare Limited said, “The fourth quarter has delivered positive results for the company. We continue to remain the market leader in Health Food Drinks category. Our access strategy, with re-launch of Rs. 5 pack of base Horlicks and Boost has enabled deep penetration and has uptake. Our recently launched awareness campaign around micronutrient deficiency, based on a study that found that up to 9 in 10 children's diets could be deficient in essential nutrients has been well received. We are confident that our high science based Horlicks portfolio will help address this.”