Backed by higher sales and cost management GlaxoSmithKline (GSK) Consumer Healthcare Ltd today reported 14.29 per cent increase in standalone net profit at Rs 146.93 crore for the third quarter ended September 30.
The company had reported net profit of Rs 128.55 crore in the same quarter a year ago.
GlaxoSmithKline Consumer Healthcare's net sales went up by 17.44 per cent to Rs 971.94 crore in the September 2013 quarter under review as against Rs 827.54 crore in the corresponding period last year, the company said in a BSE filing.
"Strong double digit profitable growth was driven by superior sales performance and a strong cost management programme," the company said in a statement.
The company follows January-December as fiscal year.
Commenting on the Company's performance, GSK Consumer Healthcare India MD Zubair Ahmed said: "We have delivered yet another quarter of profitable growth against the backdrop of slow down being seen across most FMCG categories. Our focus on greater penetration across categories, offering high science based products at competitive price points has helped in the growth of our brands."
GSK Consumer Healthcare's advertising and promotion expenses in the quarter were at Rs 163.24 crore, up 20.40 per cent as against Rs 135.58 crore in the same period last year.
Overall expenses of the company in the quarter were at Rs 833.63 crore, an increase of 19.98 per cent as compared with Rs 694.76 crore in the corresponding period last year.
GSK Consumer Healthcare's products include Horlicks, Boost, Eno, Crocin and Sensodyne.
Shares of GlaxoSmithKline Consumer Healthcare closed at Rs 4,753.60 apiece at the end of the day's trade, up 2.46 per cent from their previous day's close on the BSE.