GlaxoSmithKline Consumer net up 39% on robust volumes, price hikes

GlaxoSmithKline Consumer net up 39% on robust volumes, price hikes

Mumbai: The net profit of GlaxoSmithKline Consumer Healthcare Ltd’s July-September quarter rose 39% driven by strong volumes and price hikes, a senior company official said on Tuesday.

GlaxoSmithKline registered a 7% volume growth in its core malted food drinks business after a 5.5% price hike in the year, deputy chief financial officer Ramakrishnan Subramanian said. “It was a superlative third quarter 2007 for Horlicks, the flagship brand, with July clocking the highest ever sales in the history of the brand," he said. The company reported a net profit of Rs50.5 crore. Net sales grew 16.6% to Rs350 crore during the second quarter. The company’s shares closed up 4.7% at Rs626.45 on the Bombay Stock Exchange.

Britannia Industries Q2 net more than doubles

Mumbai: Bakery and dairy products maker Britannia Industries Ltd’s net profit more than doubled to Rs48.5 crore for the quarter ended 30 September as compared with Rs21.2 crore for the corresponding period last fiscal. Total income of the company jumped 20.39% at Rs664.6 crore for the quarter ended 30 September, as against Rs552 crore for the year-ago period, the company said in a filing to the Bombay Stock Exchange. PTI

MindTree Q2 net up 21% on higher orders

Bangalore:MindTree Consulting Ltd., the Indian computer services provider formed by former Wipro Ltd. executives, reported a 21% increase in second quarter profit after bagging more orders.

Net income rose to Rs27.1 crore in the three months ended 30 September, from Rs22.4 crore a year ago, the Bangalore-based company said on Tuesday in an emailed statement. Bloomberg

JK Tyre’s annual net up fourfold to Rs67 crore

New Delhi: Tyre manufacturer JK Tyre & Industries Ltd on Tuesday reported a nearly four times increase in net profit for the year ended 30 September, at Rs66.50 crore, as against Rs17.05 crore in its previous fiscal year.

The company’s total income grew 7.5% to Rs2,824.52 crore for the year, compared with Rs2,626.82 crore in the previous fiscal. PTI