GSK Consumer profit up 3%

GlaxoSmithKline Consumer Healthcare's net profit went up by 2.9 per cent on a year on year basis to Rs 160.6 crore, from Rs 156 crore, during the April-June 2016 quarter. The firm's net sales, however, fell by 1.6 per cent to to Rs 1,002.6 crore from Rs 1,019.3 crore in the same quarter last year.

During the quarter, GSK Consumer's expenses declined by 2 per cent to Rs 870.5 crore from Rs 888.4 crore which in turn improved its bottom-line. Its net profit margin during the quarter notched up to 16 per cent compared to 15.3 per cent on a year-on-year.

According to the company, while consumption of health food drinks (HFD) remained flat in the country, sale of its HFD brand Horlicks grew 2 per cent. As a result, GSK Consumer's market share by volume in the category grew by 1.4 per cent to 66.6 per cent.

"The FMCG sector has been battling macroeconomic challenges resulting in lower consumption. However, we remain the market leader in HFD, growing two times the category," Manoj Kumar, managing director, GlaxoSmithKline Consumer Healthcare Ltd said.

It informed the BSE that Shanu Saksena has been appointed as its company secretary and compliance officer.

GSK's stock in BSE declined 2.74 per cent to Rs 6180.80 at the end of the day. The benchmark index closed at 28,078.35 points — up by 1.31 per cent.