GSK Consumer Healthcare Q3 profit up 20 percent at Rs 163.66 crore

GlaxoSmithKline (GSK) Consumer Healthcare Ltd on Monday reported a 19.97 percent increase in its standalone net profit at Rs 163.66 crore for the quarter ended December 2017, on the back of a strong performance by its flagship health drink brands — Base Horlicks and Boost.

The company had reported a net profit of Rs 136.41 crore for the October-December period a year ago.

Its revenue from operations stood at Rs 1,034.67 crore. It was Rs 960.17 crore in the year-ago period, GSK Consumer Healthcare said in a BSE filing.

The company said the figure for the period up to June 30, 2017 are not relatable to those thereafter consequent to introduction of Goods and Services Tax on July 1. Taxes such as central excise and VAT have been subsumed in GST.

“We have delivered a strong third quarter owing to robust performances by Base Horlicks and Boost that witnessed increased market penetration and access. Our distribution for Health Food Drinks during the quarter was also amongst the best we have witnessed for some time now,” GlaxoSmithKline Consumer Healthcare Managing Director Navneet Saluja said.

“..Domestic consumer demand led by a revival in rural markets owing to the government’s strong focus on rural development and higher spending on health and nutrition will create positive momentum for the sector,” he added.

Shares of GSK Consumer Healthcare today settled 1.68 per cent down at Rs 5,961 apiece on BSE.