GlaxoSmithKline Consumer Healthcare posted a net profit of Rs. 160.61 crore for the quarter ended June 30, up 3 per cent from Rs. 156.05 crore in the same period previous fiscal. However, the company’s sales recorded a decline of 1.6 per cent to Rs. 1,003 crore.The company said that domestic consumption for the health food drink segment remained flat adding that that Horlicks grew by 2 per cent during the quarter.In a statement, Manoj Kumar, Managing Director, GlaxoSmithKline Consumer Healthcare, said: “The FMCG sector has been battling macroeconomic challenges resulting in lower consumption. However, we remain the market leader in HFD, growing two times the category.”“Our brand connect has been strengthened through deep insights based communication which we believe will drive further consumption and trials in future. With the onset of monsoon and the announcement of seventh pay commission, our outlook remains optimistic for both urban and rural India.” added Kumar.The company’s share price closed at Rs. 6,180.80 down 2.74 per cent on Friday at the BSE.
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