GlaxoSmithKline Consumer Healthcare Ltd (GSKCH), the consumer products subsidiary of UK-based GlaxoSmithKline plc, reported a 17 per cent rise in net sales to Rs 972 crore and a 14 per cent increase in net profit to Rs 147 crore for the third quarter ended September 30, 2013 over the year-ago period.
“We are delighted to deliver yet another quarter of profitable growth against the backdrop of a slowdown 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, GSKCH India.
According to the stock exchange announcement, GSKCH will focus on developing new markets and look at tier II and rural markets in the future to increase its reach.
An upswing in revenue was led by strong brands in the health food drinks category, including Horlicks, Boost and Boost Choco Nut. The revenue from Horlicks increased 16 per cent for quarter that ended September 30, 2013.
(Edited by Joby Puthuparampil Johnson)