ICICI Securities Ltd | Retail Equity Research GSK Consumer reported a weak performance for the quarter impacted by the decline in consumption offtake and reduction in trade & distributors inventory pipeline as a result of demonetisation. Sales for the quarter declined 12.4% YoY to | 960.2 crore. We were factoring in a marginal decline of 1.5% YoY to | 1013.9 crore on account of expected higher auxiliary income. However, the company reported 5.3% YoY decline in auxiliary income...