GlaxoSmithkline Consumer Healthcare shares plunged nearly 5 per cent in the early trade on Wednesday after the company on Tuesday reported 8.18 per cent decline in its standalone net profit at Rs 180.68 crore for the quarter ended March 31, 2016. It had posted a net profit of Rs 196.78 crore for the corresponding period a year ago.
At 9.37 am, shares of GlaxoSmithkline Consumer Healthcare were trading 4 per cent down at Rs 5,845. The scrip opened at Rs 5899 and has touched a high and low of Rs 5,950 and Rs 5,800, respectively, in trade. Later, the scrip settled 3.87 per cent down at Rs 5850.20.
Net sales of the company decreased by 9.63 per cent at Rs 1052.83 crore for quarter under review as compared to Rs 1,165.06 crore for the quarter ended March 31, 2015.
However, for the financial year ended March 2016, the company reported net profit of Rs 686.91 crore, up 17.70 per cent, against Rs 583.60 crore a year ago.
The company also recommended a dividend at the rate of Rs 70 per equity share of Rs 10 each.