GSK Consumer Q3 net up 31% to Rs 78 cr

GlaxoSmithkline Consumer Healthcare, which sells 'Horlicks' brand of health drinks and biscuits, today said its net profit rose by 30.90 per cent to Rs 78.57 crore for the quarter ended September 30.

GlaxoSmithkline Consumer Healthcare (GSKCH) attributed the robust growth to product launches, focus on cost reduction and expansion of distribution network during the period.

During the quarter, total income of the company rose to Rs 633.02 crore for the September quarter, compared to Rs 510.27 crore in the same period last fiscal.

"Our strong growth in this quarter shows the confidence consumers have in our brands and products. We believe in consistent innovation of our brands to keep abreast with the evolving demands of the consumers," GSKCH Managing Director Zubair Ahmed said.

During the quarter, GSKCH had relaunched Horlicks in a new look as part of its strategy to position it as an umbrella brand of the company.

For the nine month period ended September 30, the company posted a net profit of Rs 246.48 crore, compared to Rs 199.10 crore in the same period previous fiscal.

The company's total income for the nine month period ended September 30, rose to Rs 1,849.56 crore compared to Rs 1,550.14 crore in the same period last fiscal.

"We will continue the growth momentum of our consumer healthcare business through introduction of new products of value that are relevant to the Indian consumers," he said.

The company share today hit a 52-week high to touch Rs 2,232 before settling at Rs 2,214.25 on the BSE, up by 0.98 per cent from its previous close.