GSK Consumer Healthcare slips after weak Q4 earnings

Shares of GlaxoSmithKline (GSK) Consumer Healthcare fell over 5% today after the company reported an 8.18% decline in standalone net profit for the March quarter at Rs 180.68 crore.

Opening on a weak note, the stocks further slumped 5% to Rs 5,792.

At NSE (National Stock Exchange), shares of the firm fell 5.46% to Rs 5,779.

The company had posted a net profit of Rs 196.78 crore for the corresponding period a year ago, GSK had said in a BSE (Bombay Stock Exchange) filing yesterday.

Net sales during the period under review was Rs 1,052.83 crore, down 9.63% from Rs 1,165.06 crore in the corresponding period last fiscal.
 

For the full fiscal, GSK's standalone net profit rose 17.70% to Rs 686.91 crore as against Rs 583.60 crore in 2014-15.

However, its net sales declined 0.72% to Rs 4,106.61 crore in 2015-16 from Rs 4,136.44 crore a year ago.