GlaxoSmithkline Q1 net profit up 19%

GlaxoSmithkline Consumer Healthcare said its net profit rose to Rs 131.97 cr.

GlaxoSmithkline Consumer Healthcare (GSKCH) today said its net profit rose 19.30 per cent to Rs 131.97 crore for the first quarter ended March 31.

The company had posted net profit of Rs 110.62 crore for the same period during the 2010-11 fiscal,GSKCH said in a statement.

Net sales of the company rose to Rs 813.02 crore for the first quarter ended March 31,2012,as against Rs 710.01 crore in Q1 last year.

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GSKCH MD Zubair Ahmed said,”GSKCH has shown consistent double digit growth over the years and the results of this quarter are also in-line with the company’s strong performance.”

The company is continuously focusing on innovation and leveraging science to develop products,he added.

Along with these,cost efficiency initiatives and increased penetration across categories have helped the company deliver better results,Ahmed said.

The company makes and markets various products such as Boost,Maltova,Eno,Cricin and Iodex in the country.

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Shares of GSKCH today closed at Rs 2,701 on the BSE,down 1.70 per cent from its previous close.

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