GSK Consumer Healthcare’s Q4 profit rises 20% to Rs211.81 crore
GSK Consumer’s Q4 profit rose to Rs211.81 crore in Q4 FY18 from Rs175.88 crore in Q4 FY17 while revenue rose to Rs1,179.58 crore during Q4 FY18
Mumbai: GlaxoSmithKline Consumer Healthcare Ltd, the maker of Horlicks and Boost nutritional supplements, on Friday reported a 20.4% increase in net profit for the quarter ended 31 March, or Q4, backed by a 7.1% growth in sales.
Net profit for Q4 rose to Rs211.81 crore from Rs175.88 crore in the year-ago period. Revenue from operations rose to Rs 1179.58 crore during the quarter.
“The quarter also witnessed a volume growth at 5.3%. For the full year, the comparable revenue is Rs 4,377 crores which is an increase by 7.6%,” GSK Consumer said in a statement.
Net profit for the full year grew by 6.1% to Rs 700.10 crore from Rs 656.68 crore the previous year.
The company’s staff cost jumped 32.8% during the January-March quarter and it cut down its advertising and marketing cost by 2.5%.
GSK Consumer also said there had been a change in accounting. Levy of excise duty, Octroi, non-cenvatable service tax, etc., were treated as part of costs earlier, but after implementation of goods and services tax (GST) from 1 July 2017, the new uniform tax is not treated as cost.
Navneet Saluja, managing director of GSK Consumer Healthcare, said volume growth was led by Horlicks, a brand that its global headquarters have put on the block in March. “With a strong government focus on Nutrition, better than expected monsoons and an improved business environment, we are bullish about the coming quarters,” he added.
On Friday, shares of GSK Consumer Healthcare rose 0.78% to Rs5,919.05 apiece on the BSE, while the benchmark Sensex rose 0.82% to 35,535.79 points.
The company earnings were released after trading hours.
- Homebuyer moves NCLT against SPV owned by 3C directors
- CPPIB may acquire $277 million debt Mytrah raised from Piramal Group
- Elon Musk’s oil conspiracy against Tesla ends with Saudi Arabia’s billions
- Fortis shareholders approve stake sale to Malaysia’s IHH
- Kotak Mahindra Bank’s plan to cut promoter stake doesn’t meet norms: RBI
Editor's Picks »
- BofA-ML survey: Short EM equity second most crowded trade
- GST-led shift from informal to formal sector happening, but at a snail’s pace
- Uncertain earnings for agricultural input firms despite bountiful rains
- PVR pays a premium for south
- Tata Steel’s Q1 supports India push but investors enquire at what cost