GSKCH Q1 net up 15% to Rs 110 cr

GlaxoSmithKline Consumer Healthcare Limited (GSKCH), makers of the 'Horlicks' brand of health drinks and foods, today posted a 15% growth in its net profit to Rs 110.6 crore in the quarter ended March 31, 2011.

"The quarter saw increased visibility across product portfolios supported by strong marketing initiatives. Both 'Horlicks' and 'Boost' powered ahead," GSKCH said in a statement.

During the quarter, the company's net sales increased by 9% to Rs 710 crore from Rs 648.43 crore posted in the same period last fiscal.

The company also manufactures and markets health drinks like 'Boost', 'Viva' and 'Maltova' besides a number of diverse products under brands like Eno, Crocin, and Iodex.

The company's advertising and promotional budget during the quarter increased to Rs 103.55 crore from Rs 98.24 crore spent in the year-ago period.

Shares of GSKCH closed at Rs 2,383.40 on the Bombay Stock Exchange, down 2.24% from the previous close.