GlaxoSmithKline Pharmaceuticals 3QFY2016 Results: Angel Broking

Views of Ms. Sarabjit Kour Nangra (VP Research - Pharma, Angel Broking) on GlaxoSmithKline Pharmaceuticals 3QFY2016 Results:

GlaxoSmithKline Pharmaceuticals (CMP: INR 3,292/ TP: / Upside :)

"GlaxoSmithKline Pharmaceuticals, posted results below expectations. For 3QFY2016, the company posted sales of INR 729cr V/s INR 730cr expected V/s INR 646.2cr in last corresponding period a YoY growth of 12.8%. On the operating front, the OPM's came in at 14.1 V/s 18.0% expected V/s 17.0% during the last corresponding period. This was mainly on back of lower than expected GPM, which came in at 53.1% V/s 56.7% expected. Thus, Adj. net profit came in at INR 82cr V/s INR 102.7cr expected V/s INR 66.1cr during the last corresponding period, a YoY growth of 50.2%. Overall, we are NEUTRAL on the stock."

Shares of GLAXOSMITHKLINE PHARMACEUTICALS LTD. was last trading in BSE at Rs.3203.7 as compared to the previous close of Rs. 3212.65. The total number of shares traded during the day was 1224 in over 401 trades.

The stock hit an intraday high of Rs. 3240 and intraday low of 3130. The net turnover during the day was Rs. 3888946.

Source : Equity Bulls

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