GlaxoSmithKline Consumer Healthcare Limited announces results for the third quarter ended December 31, 2016
13 February 2017
GlaxoSmithKline Consumer Healthcare Limitedannounces results for the third quarter ended December 31, 2016
Highlights for the third quarter ended December 31, 2016
- GSK business fundamentals continue to remain strong
- Net Sales and Profit Before Tax (PBT) for the quarter was adversely impacted by demonetisation
- YTD December Horlicks volume market share is holding on at 52.3% & value market share is at 46.5% (up by 0.1%)*
GlaxoSmithKline Consumer Healthcare Limitedtoday declared its financial results for the third quarter ended December 31, 2016. Sales stood at Rs. 922 crores decrease of 12.7% and PBT at Rs. 206 crores decrease by 9.8%. The sales and PBT decline was mainly on account of lower consumption off take and reduced trade pipelines due to demonetisation.
Commenting on the results, Manoj Kumar, Managing Director, GlaxoSmithKline Consumer Healthcare Limited said, “The overall business environment during the quarter was challenging and uncertain due to demonetization. This substantially impacted the cash dominated geographies - mainly East & North - and channels - mainly wholesale and rural, resulting in lower consumption off take & reduced trade pipelines. We responded to the volatile demand situation with agile supply chain initiatives and supporting trade with extended credit terms. In addition to this, keeping with our access strategy, we relaunched Rs. 5 pack of base Horlicks and Boost to ensure that our products are within the easy reach of our larger consumer base. We will continue to invest in A&P.”
“Our outlook for the upcoming quarters remain positive. We are confident that with improved liquidity position and focus on high science, strong brands, innovation and sharp customer insights will help us to stay ahead in the category,” he added.
*As per Nielsen data
About GlaxoSmithKline Consumer Healthcare Ltd
GSK Consumer Healthcare Ltd is the category leader in Indian health food drinks industry. Our flagship product Horlicks leads the market, while Boost is among the top three health food drink brands that India prefers. Our manufacturing plants are located in Nabha, Rajahmundry and Sonepat. In India we have an engaged workforce of over 4000 employees. GSK also markets and distributes a range of everyday health products such as Eno, Crocin, Iodex and Sensodyne. Our marketing and distribution network comprises over 700 distributors and a direct coverage of over 8 lakh retail outlets.
GSK Consumer Healthcare Ltd is an associate of GlaxoSmithKline plc. of U.K, one of world’s largest consumer healthcare companies. We have a heritage that goes back over 160 years. Our purpose is to help more people around the world to do more, feel better and live longer with everyday healthcare products. Our goal is to build a global, growing business - we call a Fast Moving Consumer Healthcare (FMCH) company - dedicated to everyday healthcare with all of the scientific expertise and quality guarantees that demands, working at the speed and with the genuine consumer understanding the modern world expects.
GSK Consumer Healthcare globally owns some of the world’s best loved healthcare brands, successful in over 100 countries. These include Sensodyne, Voltaren, Theraflu, Paradontax, Panadol, Polident, Otrivin, Horlicks and Physiogel.
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