- By Aditya Pratap Singh
- Thu, 24 Oct 2024 12:11 PM (IST)
- Source:JND
Hindustan Unilever Share Price: The FMCG company Hindustan Unilever Ltd fell by nearly 6% on Thursday after reporting a 2.33 percent decline in consolidated net profit for the second quarter that ended September. The stock tanked 5.78% to Rs. 2,504.15 on the BSE. On the NSE, it declined 5.86% to Rs. 2,503.25. During morning trade, the stock emerged as the biggest laggard among Sensex and Nifty firms.
Hindustan Unilever Ltd on Wednesday reported a 2.33 percent decline in consolidated net profit for the second quarter ended September 2024 to Rs. 2,595 crores, on the back of moderate urban market demand.
The company had reported a net profit of Rs. 2,657 crore in the July-September quarter a year ago, HUL said in a regulatory filing.
However, revenue from product sales grew 2.36 percent to Rs. 15,703 crores in the September quarter from Rs. 15,340 crores in the year-ago period, HUL, which owns brands like Surf, Rin, Lux, Ponds, Lifebuoy, Lakme, Brooke Bond, Lipton and Horlicks, said.
Stock Market Today
Equity markets turned negative after a rally in early trade on Thursday as steady foreign capital outflows and disappointing earnings from Hindustan Unilever dampened investor sentiment.
The BSE Sensex rose 177.84 points to 80,259.82. The NSE Nifty rose 45.15 points to 24,480.65. However, the benchmark indices soon suffered a sell-off and traded lower. The BSE benchmark gauge was trading 219.12 points lower at 79,862.86 and the Nifty was down 74 points at 24,361.50.
Hindustan Unilever fell by more than 5% after the FMCG major reported a 2.33 percent decline to Rs. 2,595 crores for the second quarter that ended September 2024.
(With Agencies Inputs)
