GlaxoSmithkline Consumer Healthcare Ltd on Thursday reported a 25.13 per cent jump in standalone net profit to Rs 276.63 crore for the quarter ending December 2019, driven by cost efficiencies. The company had reported a net profit of Rs 221.06 crore in the same quarter a year ago.
The total income of the company rose to Rs 1,274.90 crore as against Rs 1,241.07 crore, GlaxoSmithkline Consumer Healthcare said in a filing to BSE.
"We have witnessed sustainable growth since the past few quarters and are happy with the performance in Q3," the company's Managing Director Navneet Saluja said.
It has been a milestone quarter for the company as it achieved the highest ever distribution reach, adding approximately 0.22 million outlets compared to same period last year, he added.
"With our focus on delivering high-science products based on strong consumer insight, this year witnessed the successful launches of Horlicks Protein+ (Vanilla) and Active Horlicks," Saluja said.
The company further expanded its rural reach through a unique Home to Home channel that employs 9,500 rural women entrepreneurs, he added.
"Despite the current downturn in the economy, we are optimistic that concentrated efforts by the government will help boost consumption and revive demand in the market," Saluja said.
On December 3, 2018, the company announced the divestment of Horlicks and other consumer healthcare nutrition brands to Unilever plc and the merger of GSK Consumer Healthcare Ltd with Hindustan Unilever Ltd.
"The Chandigarh Bench of National Company Law Tribunal (NCLT) at its hearing held on 3 February 2020 has reserved its order on the Scheme of Amalgamation between Hindustan Unilever Limited (HUL) and GlaxoSmithKline Consumer Healthcare Limited (GSK CH)," company said sharing updates on the strategic review.
Shares of GlaxoSmithkline Consumer Healthcare Ltd on Thursday settled at Rs 9,215.10 in BSE, down 0.76 per cent from the previous close.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
