HUL shares dropped over 3% on the BSE and NSE after the company reported a slight increase in net profit but lower revenue in the December quarter.
Mumbai, Jan 20 (PTI) Shares of FMCG major HUL declined more than 3 per cent in the morning trade on Saturday, a day after the company reported its December quarter earnings.
On Friday, the company reported an 1.08 per cent increase in consolidated net profit at Rs 2,508 crore in the third quarter ended December 2023.
Its revenue from sales of products was slightly down at Rs 15,259 crore in the December quarter. The company's HUL's total expenses in the given period was marginally higher at Rs 12,305 crore.
HUL shares were trading at Rs 2,482.50 apiece on the BSE, down 3.20 per cent over its previous close.
Similar movement was seen on the NSE as well, where the stock opened at Rs 2,519.95, then fell to Rs 2,482.10 apiece in early deals, down 3.24 per cent.
The company's shares declined even as the broader market was trading in the positive territory with gains of 0.17 per cent.
HUL's consolidated total income went up marginally by 0.47 per cent to Rs 15,781 crore in the quarter under review.
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