HUL Shares Drop 3% After Q1 Earnings
Jul 24, 2024 10:57
Hindustan Unilever's shares fell over 3% after reporting a modest 2.2% rise in net profit for Q1 FY25, impacted by price reductions. Revenue saw a marginal increase, while volume growth stood at 4%.
New Delhi, Jul 24 (PTI) Shares of Hindustan Unilever Ltd (HUL) on Wednesday declined over 3 per cent after the company reported just a 2.2 per cent rise in consolidated net profit at Rs 2,612 crore for April-June FY25 impacted by price reductions.
The stock went lower by 3.33 per cent to Rs 2,674.10 on the BSE.
At the NSE, it declined 3.29 per cent to Rs 2,675.10.
The FMCG major had posted a net profit of Rs 2,556 crore in June quarter FY24, according to a regulatory filing from HUL on Tuesday.
Revenue from sales of products in the quarter was marginally up 1.68 per cent to Rs 15,497 crore as against Rs 15,240 crore a year ago.
The company delivered a 4 per cent volume growth during the quarter, according to an earning statement from HUL.
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