GlaxoSmithKline Consumer shares dip nearly 3% post Q1 results

Shares of GlaxoSmithKline Consumer Healthcare today fell nearly 3 per cent after the company reported just 2.92 per cent increase in net profit for the first quarter ended June 30.
The scrip lost 2.74 per cent to settle at Rs 6,180.80 on BSE. During the day, it declined 3.12 per cent to Rs 6,156.
On NSE, shares of the company fell by 2.74 per cent to close at Rs 6,186.20.
GlaxoSmithKline Consumer Healthcare Ltd today reported a 2.92 per cent increase in net profit at Rs 160.61 crore for the first quarter ended June 30, 2016-17.
The company had posted a net profit of Rs 156.05 crore in the same period of the last fiscal, GSKCH said in a BSE filing.

Net sales during the period under review were down 1.6 per cent at Rs 1,002.61 crore, as against Rs 1,019.26 crore.
GSKCH Managing Director Manoj Kumar said: "The FMCG sector has been battling macroeconomic challenges resulting in lower consumption. However, we remain the market leader in HFD (health food drinks)...