Hindustan Unilever Shares Dip After Earnings
Apr 25, 2024 11:35
Hindustan Unilever shares fell 2% after reporting a 1.53% decline in net profit for the fourth quarter. The company cited deflation and softening commodity prices as factors.
New Delhi, Apr 25 (PTI) Shares of Hindustan Unilever on Thursday dipped 2 per cent after the company reported a 1.53 per cent decline in consolidated net profit for the fourth quarter ended March 31, 2024.
The company's stock declined 1.94 per cent to Rs 2,215.25 on the BSE.
At the NSE, it went lower by 1.99 per cent to Rs 2,215.10 apiece.
FMCG major Hindustan Unilever on Wednesday reported a 1.53 per cent decline in consolidated net profit at Rs 2,561 crore for the fourth quarter ended March 31, 2024 due to factors such as deflation and softening of commodity prices.
The company had posted a net profit of Rs 2,601 crore in the year-ago period, HUL said in a regulatory filing.
Net sales of Hindustan Unilever Ltd (HUL) were almost flat to Rs 15,013 crore in the March quarter.
While HUL's total expenses were up 1.15 per cent to Rs 12,100 crore in the March quarter from Rs 11,962 crore a year ago.
The total income of HUL during the fourth quarter of the previous fiscal was flat at Rs 15,441 crore, as against Rs 15,375 crore a year ago.
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.