GSK Consumer Healthcare tanks nearly 5% in early trade post weak Q4 earnings

Shares of Glaxosmithkline Consumer Healthcare tanked nearly 5% in an early morning trade on the Bombay Stock Exchange (BSE) on Wednesday a day after it posted weak earnings for the fourth quarter (Q4) ended March 31. 

The company shares were trading down 4.69% to Rs 5,800.00 per scrip on the BSE.

On the National Stock Exchange (NSE), too, the stock of the company declined 5.18% to Rs 5,779.00 in an early morning trade. 

Glaxosmithkline Consumer Healthcare also known as GSK Consumer Healthcare had announced its fourth quarter (Q4) and full year results for the year ended March 31, 2016, after the market hours on Tuesday. 

The company's consolidated net profit during the quarter fell by 8.18% to Rs 1,80,68 lakh as against Rs 1,96,78 lakh in the corresponding period of previous fiscal. 

Its net sales during the period was down by 9.63% to Rs 10,52,83 lakh as compared to Rs 11,65,06 in the year-ago period. 

GSK Consumer Healthcare is a leading player in the health food drink market in India and it manufactures products such as Horlicks, Viva, Boost, among others. 

At 10:32 hours, the stock of GSK Consumer Healthcare recovered slightly from its morning level but was still trading down 4.74% or Rs 288.75 at Rs 5,797.25 on the BSE.