GSK Consumer Healthcare net up 14% in July-Sept quarter

Net sales rise 17.44% to Rs 971.94 crore in September quarter as against Rs 827.54 crore in corresponding period last year

GlaxoSmithKline (GSK) Consumer Healthcare Ltd, on Wednesday, reported a 14.29% increase in standalone net profit at Rs 146.93 crore for the third quarter ended September 30. Its net profit stood at Rs 128.55 crore in the corresponding quarter in the previous year.

GSK Consumer Healthcare’s net sales rose 17.44% to Rs 971.94 crore in the September quarter as against Rs 827.54 crore in the corresponding period last year. The company follows January-December as fiscal year.

The company’s advertising and promotion expenses during the quarter stood at Rs 163.24 crore, up 20.40% as compared to Rs 135.58 crore reported in the same period last year.

During the quarter, sales of Horlicks rose 16% and sales of Boost increased 19% in India.

“We are delighted to deliver yet another quarter of profitable growth against the backdrop of slow down being seen across most FMCG categories. Our focus on greater penetration across categories, offering high science based products at competitive price points has helped in the growth of our brands,” said Zubair Ahmed, MD, GSK Consumer Healthcare India.

Shares of GlaxoSmithKline Consumer Healthcare were trading at Rs 4,730 apiece in the afternoon trade, up 1.96% from their previous day's close on the BSE.