The Hindu Business Line : GlaxoSmithKline Q3 profit up on products sale

GlaxoSmithKline Consumer Healthcare Ltd on Thursday reported a 17.7 per cent growth in profit to Rs 54.8 crore during the quarter ended September 30. The company's revenues during the quarter stood at Rs 329.1 crore, representing a growth of 13.2 per cent compared to the corresponding period last year.

"The increase in profit after tax (PAT) is driven by continuing strong sales performance of Horlicks, Boost and other products. Q3 saw Horlicks' sales value growing at double digits driven by new advertising, first-in-India packaging innovation and effective consumer promotions," said a company release.

The company declared an interim dividend of Rs 10 per share, which is 25 per cent over last year.

"The company's Q3 results are encouraging and what particularly pleases me is the fact that this growth has been led by our flagship brand Horlicks. This quarter has also been a period when independent industry bodies have recognised and rewarded innovation and excellence in marketing on our brands," said Mr Nick Massey, Managing Director, GlaxoSmithKline Consumer Healthcare Ltd.

"While unprecedented rise in input costs continue to be an area of concern, the company has registered a healthy profit to sales ratio of 16.6 per cent in this quarter, due to a well managed cost containment programme," Mr Massey added.

Sales up

For the nine months ended September 30, sales stood at Rs 925.4 crore, 12.8 per cent growth over previous year. For the same period, PBT amounted to Rs 157.7 crore, representing a growth of 23.1 per cent while PAT stood at Rs 101.6 crore - a growth of 18.5 per cent over 2005 levels.

The company's shares closed today at Rs 510 up 0.70 per cent. The share had touched a 52-week high of Rs 728 on March 14, and a low of Rs 403 on June 14.

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