New Delhi, April 26 GlaxoSmithKline Consumer Healthcare (GSKCH), the makers of Horlicks, has seen net profit grow almost 34 per cent to Rs 56.6 crore in the first quarter ended March 31, 2008.
The company claimed sales had never been so good. Net sales for the quarter went up 25.7 per cent to Rs 410.6 crore.
According to the company, the first quarter of 2008 started off with strong brand-led activities aimed at delivering the high growth plans for the business with the launch of products designed with specific consumer needs in mind. Both Horlicks and Boost continued their healthy growth with their flagship product, Horlicks, achieving highest ever sales, said GSKCH in a statement.
During the quarter, two new products – Women’s Horlicks and ActiBase – were launched. “The unprecedented launch of two products during the quarter this year shows GSKCH’s commitment and focus on growth through customer-driven innovations in existing and new product categories while continuing investments behind our brands,” said Mr Zubair Ahmed, Managing Director, GSKCH.
It also signed up the cricketers, M S Dhoni and Ishant Sharma, as new brand ambassadors for Boost.
One of the largest players in the health food drinks industry, GSKHC has a marketing and distribution network of over 2,200 wholesalers and direct coverage of over 5,15,000 retail outlets. It also manufactures Viva and Maltova and distributes a number of products in other categories such as Eno, Crocin and Iodex.