Consumer food and OTC products maker GlaxoSmithkline Consumer Healthcare Ltd (GSKCH) today posted 31.13% increase in its net profit for the third quarter ended September 30, 2011 at Rs 103.03 crore, compared to the same quarter last fiscal on the back of new launches and marketing initiatives.
The company that makes products like Horlicks and Boost along with over the counter (OTC) medicines Crocin, Eno and Iodex, had posted net profit of Rs 78.57 crore for the three months ended September 30, 2010, it said in a filing to the BSE.
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GSKCH's net sales for the quarter under review increased 17.54% to Rs 720.07 crore, as against Rs 612.58 crore in the same period last fiscal.
Commenting on the performance, the company's Managing Director Zubair Ahmed said:"Our growth in the last quarter reflects the confidence the consumers have in our brands and we will continue the growth impetus of our consumer healthcare business with a consistent focus on innovation across all our brands."
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The highlights of the quarter have been launch of new variants of brands as well as innovative marketing initiatives, he added.
During the quarter the company's spending on advertising and promotions increased by 11% to Rs 119.62 crore as against Rs 107.77 crore in the year-ago period.
GSKCH's board of directors at its meeting held today re-appointed Zubair Ahmed as the Managing Director from January 1, 2012 to May 31, 2013.
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"Ahmed's terms of appointment and remuneration are subject to the approval of the shareholders," the filing added.
The company's scrips were trading at Rs 2,499 per share, up 4.34% from the previous close on the BSE.