GlaxoSmithKline Consumer Healthcare on Monday reported a net profit of ₹163.66 crore for the quarter ended December 31, 2017. This was up 20 per cent against the net profit of ₹136.41 crore recorded in the corresponding quarter in the previous fiscal.
The revenue from operations stood at ₹1034.67 crore (₹960.17 crore).
In a BSE filing, the company said that the figures for the period up to June 30, 2017, are not relatable to those thereafter, consequent to introduction of GST on July 1, as taxes such as central excise and VAT have been subsumed in GST.
In a statement, Navneet Saluja, Managing Director, said: “We have delivered a strong Q3 owing to robust performance by base Horlicks and Boost that witnessed increased market penetration and access.”
He said that the company is confident that domestic consumer demand led by a revival in rural markets owing to the government‘s focus on rural development and higher spending on health and nutrition will create positive momentum for the sector.
“Given our strong commitment to high science, investments behind our brands combined with continued innovation and sharp customer insights, we are confident that we will grow ahead of the market in the quarters to come,” added Saluja.