GSK Consumer net up 15%

The consumer healthcare arm of GlaxoSmithKline (GSK) saw a modest 14.6 per cent growth in net profit for the quarter ended March 31. It stood at Rs 96.2 crore as against Rs 83.9 crore in the corresponding period a year before. Growth in net sales, on the other hand, was in line with street expectations at 20.3 per cent, touching Rs 648.4 crore as against Rs 539 crore in the same period last year.

Unlike rival Nestle, whose input costs surged 25 per cent in the first quarter, GSK managed to contain raw material inflation this quarter, seeing a hike of just 10 per cent during the period. It stood at Rs 141.8 crore during the period as against Rs 128.8 crore last year. Advertising and sales promotion expenditure, in contrast, increased by 62.2 per cent to touch Rs 98.2 crore in the first quarter as against Rs 60.6 crore last year.