Views on GlaxoSmithKline Pharmaceuticals Ltd 1QFY2017 Results: Angel Broking

Views of Ms. Sarabjit Kour Nangra (VP- Research Pharma, Angel Broking) on GlaxoSmithKline Pharmaceuticals Ltd 1QFY2017 Results:

"For 1QFY2017, GlaxoSmithKline posted sales of INR 685cr V/s INR 700cr expected V/s INR 622cr in 1QFY2016, a YoY growth of 10.2%. The sales growth has been impacted on back of the pricing cuts implemented by the government. On the operating profit margin, the OPM came in at 10.2% V/s 16.7% in 1QFY2016, V/s 17.0% expected. The company's OPM were impacted by the other expenses, which grew by 40.5% YoY. This lead the company to post an Adj. net profit of INR 71cr V/s INR 91cr in 1QFY2016, a YoY de-growth of 24.6%. We maintain our NEUTRAL rating on the stock."

Shares of GLAXOSMITHKLINE PHARMACEUTICALS LTD. was last trading in BSE at Rs.3306 as compared to the previous close of Rs. 3347.5. The total number of shares traded during the day was 846 in over 263 trades.

The stock hit an intraday high of Rs. 3350 and intraday low of 3275. The net turnover during the day was Rs. 2804882.

Source : Equity Bulls

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