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Business News/ Companies / Hit by strike, GSK Consumer suspends ops at Punjab plant
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Hit by strike, GSK Consumer suspends ops at Punjab plant

GlaxoSmithKline Consumer Healthcare has suspended operations temporarily at its factory in Nabha Patiala in Punjab effective May 21

GlaxoSmithKline (GSK) Consumer Healthcare reported an 8.18% decline in its standalone net profit for the March quarter at `180.7 crore. Photo: BloombergPremium
GlaxoSmithKline (GSK) Consumer Healthcare reported an 8.18% decline in its standalone net profit for the March quarter at `180.7 crore. Photo: Bloomberg

New Delhi: GlaxoSmithKline Consumer Healthcare has suspended operations temporarily at its factory in Nabha Patiala in Punjab effective 21 May following disruptions created by its workforce.

“Due to certain disruptions created by the workforce/ flash strike... the management of the company has decided to suspend operations temporarily at its factory located at Nabha Patiala - 147201 with effect from the night of May 21, 2016," GSK Consumer Healthcare said in a BSE filing on Monday.

The company added that it took the step “in the interest of safety and security of its employees and to protect the assets of the factory". Last week, GlaxoSmithKline (GSK) Consumer Healthcare reported an 8.18% decline in its standalone net profit for the March quarter at 180.7 crore.

The company had posted a net profit of 196.8 crore for the corresponding period a year ago. Net sales during the period under review was 1,052.8 crore, down 9.63%, from 1,165.1 crore in the same period last fiscal.

For the full fiscal, GSK’s standalone net profit rose 17.7% to 686.9 crore as against 583.6 crore in 2014-15. However, its net sales declined 0.72% to 4,106.6 crore in 2015-16, from 4,136.4 crore a year ago. The stock is trading 0.11% higher at 5,820 on BSE at 11.56am.

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Published: 23 May 2016, 12:50 PM IST
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