Views on Glaxo Pharmaceuticals 3QFY2014 results - Angel Broking

Views of Ms. Sarabjit Kour Nangra (VP - Research - Pharma, Angel Broking) on Glaxo Pharmaceuticals 3QFY2014 results:

"Glaxo Pharmaceuticals, posted results marginally lower than expectations on sales front , while the net profit was lower by 7.1% yoy from the expectations. The main disappointment came on the OPM front, which came in at 17.7% V/s 20.6% expected and a yoy 939bps. The sales came in at Rs. 631cr, a dip of 4.0%. The Gross margins came in at 50.2% V/s 57.3% expected, a dip of 709bps. However, on higher than expected other income and lower taxation during the quarter, lead the net profit come in at Rs. 111 V/s Rs. 120cr expected. We remain neutral on the stock."

Source : Equity Bulls

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