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Another Study Finds Link Between Pharma Money and Brand-name Prescribing

A group of researchers at Harvard Medical School has found that medical industry payments to physicians in Massachusetts are associated with higher rates of prescribing brand-name drugs that treat high cholesterol.

 

The study's finding, published today in JAMA Internal Medicine, is in line with a ProPublica analysis and story from March, which showed that physicians who receive industry money tend to prescribe higher rates of brand-name drugs 2014 and thus, lower rates of similarly effective, more affordable generic drugs 2014 when compared to peers.

 

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An aim of the study, said lead author Dr. James S. Yeh, was to determine and reduce any industry influence that could produce bad behavior.

 

"You want your doctors to be objective rather than doing something because there is a financial gain, be it subconscious or conscious," Yeh said. "That's not the way we should be doing medicine."

 

Yeh added that not all industry relationships with physicians are problematic. Often pharmaceutical companies fund large research projects that could produce advances in medical care.

 

The Harvard study concluded that physicians' rate of prescribing brand-name statins 2014 the category of drugs that treat high cholesterol 2014 increased by 0.1 percent for every $1,000 in industry money received. Under $2,000 in payments, there was no significant increase in brand-name prescribing.

 

A 0.1 percent increase in brand-name prescribing might not seem like much, but the study notes that brand-name statins cost two to four times wholesale as much as generics and that cost is an important factor in patient health outcomes. Patients are less likely to keep taking drugs that are more expensive.

 

Both ProPublica and the Harvard researchers were careful not to assign a causal relationship between payments and brand-name prescribing because there's a lot that the data alone can't show 2014 for instance, why a doctor chose a certain drug, or the list of preferred drugs used by a patient's insurer. It's also possible that pharmaceutical companies market their drugs more to doctors who are already high brand-name prescribers.

 

"I think the causal relationship is really difficult to determine because there's so many other factors that impact the physician's prescribing behavior," said Yeh, a research fellow at Brigham and Women's Hospital and Harvard Medical School.

 

The Harvard study differs from ProPublica's analysis in a few ways. ProPublica looked at doctors nationwide in the five most populous specialties, using data from the U.S. Centers for Medicare and Medicaid Services' Open Payments program, which included all payments to doctors from drug and device makers in 2014. The Harvard researchers only looked at Massachusetts doctors, using a 2011 physician payment database kept by the state's department of health.

 

Also, ProPublica focused on overall brand-name prescribing rates, not just for statins. The researchers chose statins because they are frequently prescribed and because there are both generic and brand-name options.

 

Both analyses used prescribing data from Medicare's Part D program to determine physicians' brand-name prescribing rates 2014 in fact, the Harvard researchers purchased Part D data prepared for analysis by ProPublica. Part D currently provides drug coverage to nearly 41 million seniors and disabled people.

 

One of Yeh's co-authors, Dr. Aaron Kesselheim, provided feedback on the design of ProPublica's analysis.

 

ProPublica is a Pulitzer Prize-winning investigative newsroom. Sign up for their newsletter.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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QNet: “It is a chain where a person is fooled and then he is trained to fool others to earn money” says Bombay HC order
The Bombay High Court while rejecting anticipatory bail applications of five accused in the multi-crore QNet scam, has observed that "the deceit and fraud is camouflaged under the name of e-marketing and business". This scheme is undoubtedly a multi-level marketing (MLM) activity and a pyramid structure of such scheme is prepared so that the members are promised to get money on purchase and sale of products, the Court said.
 
In a hard-hitting order on 6 May 2016, Justice Mridula Bhatkar said, "The motto of the company 'sell more, earn more' appears very attractive and innocuous. However, this motto is fully camouflaged. The company stands on a basic statement that people can be fooled. Thus, the true motto is 'sell more earn more' by fooling people. In fact it is a chain where a person is fooled and then he is trained to fool others to earn money. For that purpose, workshops are conducted where study and business material is provided with a jugglery of words, promises and dreams. Thus, the deceit and fraud is camouflaged under the name of e-­marketing and business."
 
"It has very grave and serious impact on the economic status and mental health of the people on a large scale. On considering parameters of section 438 of the Code of Criminal Procedure, I am not inclined to protect the accused. It won't be out of place to mention that such circulation is required to be stopped. It is necessary for the prosecution to take injunctive steps against this business activity, which is prima facie, illegal. Though by stopping this business, a large group of people may get financially affected, however, it will save larger groups of people from becoming prey of this activity," the Bombay HC said. 
 
The HC rejected bail applications of five including, Srinivas Rao Vanka and Magaral Veervalli Balaji, both directors of Vihaan Direct selling (India) Pvt Ltd, Suresh Thimiri, director of Transview Enterprises India Pvt Ltd, Malcolm Nozer Desai, who is a 20% stakeholder in Vihaan and Michael Joseph Ferreira, former world champion of billiards and an 80% stakeholder in Vihaan.
 
"I have gone through the plan which is given by QNet to every individual representative (IR)," Justice Bhatkar said. "I have gone through the statements of many witnesses, who claimed that they have been cheated under the scheme launched by QNet. I have also considered the conclusive report of Serious Fraud Investigation Agency (SFIO) under the Company Act) SFIO Prima facie, there is material to hold that the business conducted by Qnet is covered under PCMC Act and also under Drugs and Magic Remedies (Objectionable Advertisements) Act, 1954."
 
"However," the Bench added, "the things are not as straight as they are perceived on the surface. Assuming that the scheme was launched with a noble object to give benefit to maximum people to make money quickly and easily by selling products of the company, however, after going through the material placed before me including the statements of the witnesses, I am of the view that in the mid­way, the intention of the applicants/ accused, who are the directors and shareholders of the company, became dubious. They had knowledge that more members are suffering financial losses and they are not satisfied with the products. The claim that the wellness products i.e., Biodisk and Chi Pendent are medicinal and spiritual products, are after all, a matter of faith. However, the applicants/ accused have launched these wellness products with ulterior motive and with correct judgment of vulnerability of the people. The holiday packages, which were sold or offered, without any choice left to the buyers. The entire business was Internet based and, therefore, the persons who are responsible i.e., the top brass i.e., the applicants/ accused, were not approachable to the persons who were aggrieved. The nature of the business was knitted in the interest of the Directors and shareholders in such a manner that the persons who are at the lower level of the pyramid cannot get any access to put up their grievances. The manner in which the persons were contacted, incentives offered, the workshops were conducted, are best examples of inducement."
 
Earlier, Pradeep Gharat, special Public Prosecutor submitted before the Bench that Vanmala Hotels, Travels and Tourism Services Private Ltd and Pallava Resorts Private Limited have created a Website and travel packages. "The commission was not paid on the products though the new members were introduced. The registered office of Vanmala Hotels, Travels and Tourism Services Pvt Ltd company is a call center," he said. 
 
He further submitted that in December 2014 the Ministry of Corporate Affairs sealed their office at Chennai and declared Gold Quest International Pvt Ltd and QuestNet Enterprise (P) Ltd as the fraud companies. "Thus, money is collected on­line and though the Independent Representative number is given, actual money was not available for withdrawal. Said money was laundered outside India. The police in the investigation have come across 73 bank accounts of Q Net Ltd and total laundering of is around Rs135 crore," Adv Gharat had said.
 
Below is the order passed by the Bombay HC…
 
 
Earlier in February 2016, the special Maharashtra Protection of Interest of Depositors (MPID) Court had also rejected anticipatory bail applications of these five. The Economic Offences Wing (EOW) of Mumbai Police, which is probing the case, had invoked the stringent MPID Act against controversial multi-level marketing (MLM) company QNet, which has denied any wrongdoing on its part.
 
Gurupreet Singh Anand, a computer consultant from Lokhandawala, Andheri in his first information report (FIR) stated that his wife was duped for Rs30,000 by some people who had introduced themselves as the independent representatives (IRs) of QNet. 
 
While arguing before the HC in person, he contended that the illegal money circulation scheme is being conducted in India by changing names from GoldQuest to QuestNet to the current QNet.
 
Earlier, the SFIO in its detailed ‘secret’ report on GoldQuest International Pvt Ltd and Quest Enterprises India Pvt Ltd has called multi-level marketing (MLM) schemes run by overseas operators as “a potential threat to national security”.
 

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COMMENTS

Willson Mathur

2 weeks ago

Hi All ,
I read all discussions . I do agreed , Q NET is a big shit and scam. I am also a victim of this scam. Same set of questions roaming around in my mind every day
1. How I can recover my money ?
2. To whom I should contact ?
3. How I can proceed further ?
4. If I file FIR then to whom against ?
5. Can government or any authority help me ?
.6. How Can I proof , I cheated ?
...
....

I can go any limit to teach them a lesson, So that no one become fool like us.
Please help me , If you can ..eager to listen to you ..

Manish Mathew

3 weeks ago

but some people are earning like hell.... Actually we are buying a product and we can use that product then tell me how is it Illegal..??

REPLY

Vivek Kumar

In Reply to Manish Mathew 5 days ago

No One earns other than the owner of the comapny. They fool people saying that one can earn like hell and introduce such "SO CALLED" successful people whom others think they have reached there only by doing this but they are there by fooling people bottom down in the pyramid.

gurupreet

In Reply to Manish Mathew 3 weeks ago

Who all earning like HELL?

Chandu

1 month ago

One week back ..
My bro join in Qnet in Visakhapatnam....
He paid 1lac..
Company said u will get 4 months training....
Is that company is safe or not???

REPLY

Gee Yess Kay GSK

In Reply to Chandu 1 month ago

It's a big scam...and no doubt he will be another loser ....!

gurupreet

3 months ago

GOOD NEWS...QNET VICTIMS IN MUMBAI...DEDICATED QUESTIONS & ANSWERS SESSION FOR QNET VICTIMS on Sunday 18th September 2016.

Ever since you lost your hard earned money in QNET SCAM, you all have multiple questions and facing multiple issues like :

1. Where and whom to approach for recovering your hard earned money?

2. How to help fight and stop this QNET SCAM?

3. How to teach your CHEATER UPLINES a lesson?

4. Issues regarding the “so called” “REFUND POLICY”.

5. Are you eligible for “Compensations”?

6. Issues regarding action buy police authorities.

7. What is the status of the court cases etc.

These are an example of just a few issues and concerns you are facing, but there is GOOD NEWS for you all. We have been working overtime to try and bring an end to these woes and issues faced by Victims of Financial Frauds like this QNETSCAM.

So guys and girls tomorrow is the BIG DAY finally , Please do join us tomorrow (Sunday) afternoon at 1.30 PM sharp at Andheri east, outside Sarangi Restaurant (Just 1 minute from the Andheri station on the east side).

Please do come and also inform other victims of the QNETSCAM.
Tomorrow (Sunday) afternoon sharp 1.30 PM, outside Sarangi Restaurant , Andheri-east, Mumbai.

Please note we have limited seats, first come first served basis allotment..so make sure to reach in time __/\__ . You can contact on 7498063701 in case of difficulty in locating us :)

Jai Hind.

jitu moni

3 months ago

http://timesofindia.indiatimes.com/city/hyderabad/4-persons-associated-with-MLM-company-arrested/articleshowprint/54204335.cms?null
Four persons, who were associated with Hong Kong-based QNET, a multi-level marketing (MLM) company, and duped 200 persons by promising them jobs, were arrested by Central Crime Station (CCS) officials on Thursday. However, the MD and directors of QNET and its sister company Vihaan Direct Selling are still at large.


Deputy commissioner of police (CCS) Avinash Mohanty said Sreenath Konda, Prasanna Kumar Reddy, V Kanchana, B Dhan Raj were arrested from different locations in the city for cheating people.


Police said the accused had been enrolling gullible people as agents by collecting Rs 10 lakh from a group of 10 persons.


Each person would be given status of promoter, direct them to attract a group (i.e., 10 persons) and make them join QNET by paying Rs 10 lakh, for which the promoter would be assured commission.

akhil renjith

3 months ago

They have opend there new offices in Cochin ,Kerala . They are scamming money from the teenagers who thinks they can make easy money in few period of time .

REPLY

Raja R

In Reply to akhil renjith 1 month ago

they approached me too can we trust them i think they are cheating us

jitu moni

3 months ago

http://zeenews.india.com/news/maharashtra/qnet-case-sc-directs-maharashtra-govt-to-file-latest-probe-report_1924693.html
Mumbai: The Supreme Court on Thursday directed the Maharashtra Government to file the latest status report regarding investigation so far on the anticipatory bail plea of World Billiards champion Michael Ferreira and four others, who are facing charges of money laundering in the multi-crore QNet case.

The next hearing in the matter will take place on September 14.

Besides Ferreira, the others whose anticipatory bail plea were rejected were Malcom Desai, Vanka Srinivas, Maganlal Balaji, all directors of M/s Vihaan Direct Selling (India) Pvt. Ltd, and Suresh Themiri, director of Transview Enterprises.
They are facing charges under Sections 420 (mischief), 468 (forgery), 471 (using forged document knowing it is not genuine) of the Indian Penal Code (IPC).

Justice Mridula Bhatkar of the Bombay High Court, who took on record the statement of public prosecutor Pradeep Gharat that investigations were still on, had in May rejected their anticipatory bail pleas.

Ferreira had started the operations of QNet, a multi-level marketing company, in India via his firm Vihaan Enteprises.

The QNet cheating case began with a complaint by Gurpreet Singh Anand, who raised his voice after losing Rs. 30,000.

According to the police, the money involved has crossed Rs. 1,000 crores in the alleged scam with more than five lakh investors allegedly losing their money in the case against QNet which is being probed by the Economic Offences Wing.
ANI

Raajesh Kumar

4 months ago

So many QNET memebera running their shops in Delhi NCR area.. Some main persons are Shashikant ravi... Umesh Joshi, Umesh Pandey , Ashish kumar, harsh awasthi, ... They are running workshop on each Saturday Sunday at Noida .... So many guys are lost their money

atul gupta

4 months ago


Be ready to fight against QNET/VIHAAN and all your uplines including friend.
Find QNET REFUND PROCESS and COMPLAINT AGAINST QNET procedure as below.
1st Option
If your purchase on product receipts is in INR rupees then with in 30 days of purchase or if your purchase is in USD dollar then with in 7 days you can send email to Qnet customer support for refund otherwise Qnet will deny you refund. Then go to 2nd option which all need to go for even after you get refund to get QNET banned from India and to save our brothers & sisters.
1. Get your IR ID first. It will come to your mail box once your upline register your email id on portal. If email id is given wrong then call Qnet customer support numbers and complain about your upline. Ask your IR ID and products purchased details from them.
2. Send a cancellation mail for both products and IR ID to the support team of QNET with a subject line as "REFUND IN****" provinding all details of transactions and product details.Usually IR number will be like IN4444 and all. Attach scanned PAN CARD and product receipts in the mail to them.
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
3.Once this mail is sent, the support team will create a CRF number and sends to Hong Kong team for approvals for the refund request. It will take 15-20 working days for the approvals for refund request.
4.Meanwhile, mail them or call them on every alternative days for an update. QNET Numbers are :
9900060061,62,64,68-Veronika
9900060605, 9148149320Jasvinder
5.Once Refund request is completed ,they ask for the mode of payment. Better go for Money transfer to your account. If you opt for account transfer, then you have to send a scanned copy of your cancelled account cheque leaf or bank statement.
6.After 20 working days, you will get your money refunded of the product to your bank account.
7.Rest of money left , you collect from your upline by filing complaint in local police station.

2nd Option
pls all go for 2nd option even if you get money refunded as per option 1 by QNET to ban QNET and save indians.
File written complaint/FIR against your friend and all uplines at local police station and write in complaint that QNET is running money circulation scheme which is banned in india as per prize ,chit and money circulation scheme ,1978. Your uplines will be called by police and they will return you money through QNET or themselves as you can not get refund from Qnet after 30 days are over if products purchased through indian portal and after 7 days if purchased through world portal. Warn your uplines that you are going to file complaint/FIR against them. Besides above process kindly by post or by hand send your complaint to THE DCP, ECONOMIC OFFENSES WING, MANDIR MARG, DELHI also to ban QNET by using format of complaint given below.
https://drive.google.com/file/d/0ByQ-yz2wwceEX3BEV3kxZlNkbDg/view?usp=drivesdk
In your complaint attach uplines photos, mobile numbers, your bank account statement if you transferred money from your account to upline account or cash/DD deposit receipt, pan card, address proof, purchase receipts. Mention in your complaint that meeting took place nearby your home or office otherwise local police will ask you to lodge complaint at police station where actual meeting took place. File complaint at your nearby police station and EOW DELHI both to fight against QNET. Do not sign any affidavit asked by your uplines to give back your money. Please whatsapp me at 9871853120 only if any confusion.

REPLY

Willson Mathur

In Reply to atul gupta 2 weeks ago

Hi Atul,

really useful information . I have a question
my login in QNET already crossed 30 days [More than 7 months] . Can I still adopt option 1 ?

Willson Mathur

In Reply to atul gupta 2 weeks ago

Hi Atul,

really useful information . I have a question
my login in QNET already crossed 30 days [More than 7 months] . Can I still adopt option 1 ?

jitu moni

4 months ago

http://www.newsambit.com/eow-of-delhi-police-registered-case-against-qnet-india-and-its-irs/
NewsAmbit, New Delhi
Delhi Police Economic Offence Wing(EOW) has registered an FIR against QNET India/Vihaan Direct selling India Private Limited and its three independent representatives on the allegations of cheating and fraudulently operating the multi level marketing, which is illegal in India. Police have initiated the investigation and suspecting huge scam, which is estimated in crores.
A senior Police officer of EOW said that we received a combined complaint against QNET India and its three independent representatives from more than dozen of people in the month of March this year. As per the allegations of main complainant Anuj Jain alleged that his friend Himashu Aggarwal approached him for an business opportunity. He said that he is an independent representative(IR) of an e-commerce based company. He said that he can arrange an meeting with the other IR’s who will tell you about the business and if they find you suitable you will get chance to be a part of the company. After few days Himanshu called Anuj Jain to come with a CV at a café situated in Nehru Place area on 29 November 2015. Anuj reached there, where he met with Himanshu and his to associates Anita Jaggi and Kanika. Trio told him about the business profile and also assured that this is not a networking marketing company. They demanded Rs 6.5 lakh to be a member of the company. They also said that company has millions of customers. IR of the company is treated as a partner and also got the profit share for each sale. After three four days Anuj gave them 6.5 lakh rupees but after some time he got to know that this is a multi level marketing company and fraudulently cheating innocent persons by roping them in it’s banned business with the help of IRs.
Police said that Anuj is not the only complainant so many more complainants also approached to EOW. After which a preliminary enquiry had conducted. It was found that some persons who are termed as IR contact their friends and close persons to join a new e-commerce business. They don’t tell the name of the company or complete business module at the beginning. After alluring them they set various amounts from the victim. Independent Representatives(IR) get training during the joining and talk to make further members. These kinds of IRs of the company are operated from different cafes and food courts situated in Delhi and NCR.
Those who join the company get user id etc and products like ravel packages, some other items etc are shown purchase from their money. The delivery address given in the portal is also found of overseas area most of the time and mostly that address is too fake type location only which shows that no products are being sold and it is a completely a money circulation scheme. Two websites were found involved in the namely www.unetindia.in and www.cmetindia.net were found mated to Vihaan Direct selling (India) Pvt ltd which is stated Indian Franchisee of Hong Kong based net company. Investigations are on. Police are trying to unearth the whole network of the IRs on which this company is running its business unlawfully in Delhi. A case has been registered u/s 420/120B/34 IPC and 4/5/6 of Prize Chits and money circulation Schemes(Banning) Act,1978 .

Profiles of IRs
Himashu works with Samsung
Anita Jaggi works with RBS

Yuvnesh Rustagi

5 months ago

https://www.quora.com/How-do-I-prove-QNET-is-a-scam/answer/Yuvnesh-Rustagi

Reality of QNet India( Vihaan Direct Selling Pvt ltd

sarang kelkar

6 months ago

Please note that QNET IR never asked me money as an investment, the money which they asked is for the purchase of their product apart from this no registration, no training fees.
Training will be provided at free of cost by trainer, what u have to pay is facility charges of Rs. 50 or 100 per week.
Except this no other cost involved.
My opinion to DEV's below comment is that under the name of QNET fake peoples are operating who are using QNET name or it may be the failed IR's who failed to make money through QNET legal & ethical model so they adopted illegal practice.

Earlier also we have experienced the cases of fraudulent using big companies name giving job, commissions, etc.

Dev

6 months ago

http://www.deccanchronicle.com/nation/crime/160616/another-multi-level-marketing-scam-hits-hyderabad-100-people-duped.html

After receiving the complaint from a group of people, the central crime station is now investigating the scam.
Company officials asked them to pay around Rs 1 lakh as charges for registration, investment and training fee. (Representational image)
Company officials asked them to pay around Rs 1 lakh as charges for registration, investment and training fee. (Representational image)
Hyderabad: A new multi-level marketing scam (MLM) has surfaced in Hyderabad with around a 100 victims losing money in the controversial QNet scheme.

Several people have come out alleging that they have lost lakhs in the dubious scheme and has demanded arrest of the managers, who have fled with crores.
After receiving the complaint from a group of people, the central crime station is now investigating the scam. The Singapore-based QNet Private Ltd had already run into trouble with the law in Bengaluru and Mumbai police due to the same scam.

The victims, mostly fresh graduates and college dropouts, alleged that they were lured by some people claiming to be company officials who offered them a high salary and commission to do ‘e-commerce’ for QNet products.

Company officials asked them to pay around Rs 1 lakh as charges for registration, investment and training fee. However, the QNet officials neither provided them any job nor gave back their money even after a year.

After several complaints poured into S.R. Nagar police station cops found out that a QNet office was operating in Ameerpet, where most of the victims had paid their money. An FIR was registered in S.R. Nagar police station against company officials and later it was transferred to CCS.

“A person named Ramesh Kurmetti and his associates run the firm. He and others had been avoiding us for the last one year whenever we asked our money back,” said P. Vishwa Teja, one of the victims from Ameerpet.

The youngsters came to know about the company through Facebook and by word of mouth. “We were told that we will be getting around Rs 30,000 as salary as we add more customers and agents into the scheme. They asked us to get trained and promised that we would be selling their products like Bio Disc, Bio Light etc. However, nothing of that sort has happened so far,” said another victim M. Avinash.

Many people have paid Rs 2 to Rs 3 lakh while some paid Rs 1 lakh. The company officials had promised their commission would be higher according to the investment they put in.

While it is yet to be calculated how much money has been looted by the company officials victims claim that it would be around Rs 5 to Rs 8 crore.
Meanwhile, the police has not made any arrest so far in the case.

“We had registered a case after taking the complaint. Since it was an economic offence with a lot of money involved the case was transferred to CCS,” said S.R. Nagar inspector Md. Waheeduddin.

sarang kelkar

6 months ago

Recently my frnd asked me to use OLA cab for drive & in return he will get some profit & similarly some days b4 the CITI bank customer care executive asked me to refer ppl to open account or take credit card from them & I will get paid upto Rs. 10k/year (I m not at all happy with CITI bank services)

So I m confused is OLA cab & CITI bank using same referral model like QNET???
Cauz in QNET also they ask to inform it frnds/relatives to use the QNET product & refer others to use.

So how does QNET biz model differnet thank CITI bank & OLA cab.

Pls guide me is CITI & OLA also chitting????

REPLY

aditya shinde

In Reply to sarang kelkar 4 months ago

@sagar kelkar..In QNET u have invest 1.5 to 10 lakhs to get membership its call pyramid scheme & In India pyramid scheme is banned. the products they gave are very cheap. and the main thing is if u want profit in this business u have to fool 2 more peoples to invest in QNET and those 2 people have to fool more 2 peoples each to get profit. the product they are just 2nd priority u don't have to sell them. the main thing is money chain. and the OLA and CITI bank you talking that is just marketing the more u refer advertise you will get profit you don't have to invest in that.

Srinivas Chowdary Vaddineni

In Reply to aditya shinde 3 weeks ago

Well said.. its a 100% fake company. friends , relatives are leaving all ethics and doing this cheap business.

manoharlalsharma

6 months ago

Its' business who can understand can play or shut shop ; QNet: “It is a chain where a person is fooled and then he is trained to fool others to earn money” says Bombay HC order

HUL's Q4 net up 7%
Consumer goods major Hindustan Unilever Ltd (HUL) on Monday reported a 7% rise in its standalone net profit in the quarter ended March to Rs.1,089.59 crore as compared to Rs.1,018.08 crore in the year-ago period.
 
Net sales increased by 3.36 percent for the quarter to Rs.7,809 crore as against Rs.7,555 report in the corresponding period last year.
 
"During the quarter, the domestic consumer business grew at 4 percent, with 4 percent underlying volume growth. Growth in the quarter was impacted by the phasing out of excise duty incentives, a one-time credit for excise duty refund in the base quarter and marginal price de-growth," the company said in regulatory filing at Bombay Stock Exchange (BSE).
 
The FMCG giant said that lower input costs resulted in 240 basis points reduction in cost of goods sold.
 
Net profit for 2015-16 was at Rs.4,082 crore with the growth rate impacted by the higher exceptional income arising from subsidiary and property related sales in the previous year, it reported.
 
"In challenging markets and a deflationary cost environment, we have delivered another year of competitive and profitable growth. Our sustained focus on investing behind brands, sharpening our executional capabilities and driving market development has enabled us to keep wining with consumers in a rapidly changing market," said company chairman Harish Manwani. 
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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