GlaxoSmithKline Q4 net profit soars 50%

GlaxoSmithKline Q4 net profit soars 50%Despite an economic slowdown, GlaxoSmithKline Consumer Healthcare, the makers of Horlicks, Boost and Iodex, on Friday registered a 50% rise in its net profit, to Rs
83.89 crore for the fourth quarter of 2008-09 against Rs 56.55 crore in the corresponding quarter of the previous year.

The total income of the company rose to Rs 565 crore during Q1 of current fiscal year from Rs 429.46 crore for the same quarter of last fiscal.

Apart from announcement of results, the firm has approved final dividend of Rs 5.00 per equity share of Rs 10 each for the year ended December 31, 2008.

GSK share on the Bombay Stock Exchange shot up by 6% to close Friday trading at Rs 786.45. The scrip has made 52-week-high and low of Rs 800 and Rs 480.