GlaxoSmithKline December quarter net up 15 per cent at Rs. 79 crore

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GlaxoSmithKlineGlaxoSmithKline Consumer Healthcare on Wednesday posted a 15 per cent jump in October-December quarter net profit at Rs. 79.75 crore on volumes growth.

The company, which sells nutrition powders like Boost and Horlicks, had posted a post-tax net of Rs. 69.65 crore in the corresponding period last year.

The profit growth was driven by an expansion of 18 per cent in the top line at Rs. 839 crore in spite of the difficult macro environment, said the company’s managing director, Zubair Ahmed.

“We achieved that on the back of volume growth of 13 per cent, while the remaining five per cent came from price rise,” he said.

He said both Boost and Horlicks did well and the company’s strategy of differentiation and introduction of targeted brands has paid off well. Horlicks for women has registered a growth of 60 per cent in sales, he added.

Growth in the rural business at 25 per cent outpaced the overall business growth, but the stream accounts for only “single digits” of the overall revenue pie, he added.