GlaxoSmithKline Pharmaceuticals Q3 net declines 33.73 per cent

GlaxoSmithKline Pharmaceuticals (GSK) has reported a 33.73 per cent decline in standalone net profit at Rs 100.95 crore for the third quarter ended September 30.

The company had posted a standalone net profit of Rs 152.34 crore in the same period previous financial year.

The company follows January to December financial year.

The drug firm's total income declined by 7.02 per cent to Rs 666.02 crore in the July-September quarter, compared to Rs 716.37 crore during the same period last year.

GlaxoSmithKline Pharmaceuticals shares were trading at Rs 2,448 per scrip at the Bombay Stock Exchange in the afternoon trade, down 1.33 per cent from their previous close.

Godrej Consumer Products Q2 net up 22.39 pc at Rs 194.97 cr PTI

Godrej Consumer Products has reported a 22.39 per cent increase in consolidated net profit at Rs 194.97 crore in the second quarter ended September 30.

The company had reported net profit of Rs 159.3 crore in the same quarter last year.

Godrej Consumer's net sales in the quarter under review was at Rs 1,957.38 crore, an increase of 22.51 per cent against Rs 1,597.64 crore in the corresponding period last year, the company said in a filing to the Bombay Stock Exchange.

"Our robust operating performance is a result of continued focus on strengthening our position in our core categories. We continue to be aggressive in launching new innovations that have been well accepted by our consumers," Godrej Group Chairman Adi Godrej said.

Elaborating further, he said: "The overall market outlook remains turbulent and uncertain. We remain watchful, agile and prudent. We will continue investing judiciously for the longer term to improve our position, create competitive advantage and emerge stronger than ever before."

Overall expenses of the company in the quarter were at Rs 1,686.35 crore, up 22.70 per cent against Rs 1,374.32 crore in the same quarter last year.

Shares of Godrej Consumer were trading at Rs 858 apiece in the afternoon trade, up 0.51 per cent from their previous close on BSE.

Wockhardt Q2 net dips 69 per cent to Rs 138 cr

Wockhardt has reported a 69.46 per cent decline in its consolidated net profit for the second quarter ended September 30.

The pharma major posted a consolidated net profit of Rs 138.50 crore for the quarter under review against Rs 453.55 crore in the July-September period of 2012-13.

In a filing to the Bombay Stock Exchange, Wockhardt said net sales during the second quarter stood at Rs 1,196.97 crore against Rs 1,347.44 crore in the year-ago quarter.

The company also said its Board of Directors have declared an 100 per cent interim dividend of Rs 5 per share for the financial year 2013-14.

Shares of Wockhardt closed 0.98 per cent down at Rs 455.35 on the Bombay Stock Exchange on Friday.

L&T Finance net up 13.7 per cent to Rs 301 crore

L&T Finance Holdings has reported a 13.7 per cent rise in consolidated net profit in the September quarter to Rs 300.7 crore, driven by a healthy growth in assets.

Loans and advances grew 28.2 per cent year-on-year to Rs 35,458.7 crore compared to Rs 33,309.9 crore.

The growth in net profit in lending businesses has been on account of improvement in margins, offset by an increase in credit cost. For the lending businesses, net interest margin for the quarter improved by 0.1 percentage point to 5.6 per cent, the company said in a statement.

Gross NPAs stood at 2.89 per cent or at Rs 992.9 crore of loan assets compared to 2.54 per cent in the June quarter or Rs 846.4 crore. Net NPAs stood at 1.93 per cent or Rs 654.6 crore of loan assets compared to 1.67 per cent or Rs 551 crore in the June quarter.

The company attributed the rise in gross NPAs to slippage of one account in the infrastructure segment.

Despite a de-growth in the investment management business industry, the average assets under management grew by 9.4 per cent to Rs 15,078.9 crore, resulting in an increase in market share from 1.6 per cent in Q1 to 1.9 per cent in Q2.

The private wealth management business continued to grow momentum with the client base crossing 1,000 and an average assets under service of Rs 3,570 crore.