SmithKline Beecham Consumer Healthcare Ltd. (SBCH) has reported 21% increase in revenues and maintained operating margins at 19.3%. Increase in raw material prices and higher ad spend has compensated for the substantial decline in inventory.
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The profits of the company increased by marginal 8%. During the year the company has increased the capacity to manufacture Horlicks and the commencement of operations led to higher interest cost and depreciation charge (instead of capitalising the cost).
At the current market price of Rs 410, SBCH gets a P/E multiple of 15 times its 3QFY01 annualised earnings.
GSK Consumer Healthcare declared results for the quarter ended September 2016. The revenues dropped by 1.3% during the quarter as compared to a year ago; while the profits declined by 16.6% YoY during the quarter.
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