GlaxoSmithKline Consumer Healthcare Ltd today reported 2.92 per cent increase in net profit at Rs 160.61 crore for the first quarter ended June 30, 2016-17.
The company had posted net profit of Rs 156.05 crore in the same period of last fiscal, GSKCH said in a BSE filing.
Net sales during the period under review were down 1.6 per cent at Rs 1,002.61 crore, as against Rs 1,019.26 crore.
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GSKCH Managing Director Manoj Kumar said: "The FMCG sector has been battling macroeconomic challenges resulting in lower consumption. However, we remain the market leader in HFD (health food drinks)..."
Launch of Rs 10 sachet of Horlicks and Boost has helped in making the company's products more accessible.
"We continue to remain bullish on our innovation agenda," he said, adding that GSKCH's brand connect has been strengthened through deep insights based communication "which we believe will drive further consumption and trials in future".
On the outlook, Kumar said: "With the onset of monsoon and the announcement of seventh pay commission, our outlook remains optimistic for both urban and rural India."
GSKCH stock was trading 2.21 per cent down at Rs 6,214 apiece on BSE.
