GSK Consumer profit rises 35 percent to Rs 221.06 crore in December quarter
"The merger is now subject to the receipt of other necessary statutory and regulatory approvals under applicable laws. The merger process is moving along expected timelines," the GSK added.
New Delhi: GlaxoSmithKline (GSK) Consumer Healthcare Ltd Thursday reported a 35.07 per cent increase in its standalone profit to Rs 221.06 crore for the quarter ended December 2018.
It had posted a profit of Rs 163.66 crore for the October-December period a year ago.
The company's total income stood at Rs 1,241.07 crore, up 12.82 per cent, as against Rs 1,100.02 crore in the year-ago period, GSK Consumer Healthcare said in a BSE filing.
"We have been witnessing healthy sustainable growth in our financial performance in the past few quarters. This growth is reflective of the unflinching trust that our consumers have in our products," GlaxoSmithKline Consumer Healthcare Managing Director Navneet Saluja said.
Also Read: GSK Consumer Healthcare Q3 profit up 20 pc at Rs 163.66 cr
On December 3, 2018, the company had announced divestment of Horlicks and other consumer healthcare nutrition brands to Unilever plc and the merger of GSK Consumer Healthcare with Hindustan Unilever Limited (HUL).
On January 23 this year, the merger deal with Hindustan Unilever Limited (HUL) was approved by the Competition Commission of India (CCI).
"The merger is now subject to the receipt of other necessary statutory and regulatory approvals under applicable laws. The merger process is moving along expected timelines," the company added.
Also Read: HUL expects to complete the merger with GSK Consumer Healthcare in 2019