HUL hits record high after Q3 earnings

Hindustan Unilever rose 0.23% to Rs 1,375 at 9:48 IST on BSE after net profit rose 27.7% to Rs 1326 crore on 10.8% increase in net sales to Rs 8323 crore in Q3 December 2017 over Q3 December 2016.

The result was announced after market hours yesterday, 17 January 2018.

Meanwhile, the S&P BSE Sensex was up 385.87 points, or 1.10% to 35,467.69.

On the BSE, 62,000 shares were traded in the counter so far, compared with average daily volumes of 88,000 shares in the past two weeks. The stock had hit a high of Rs 1,405 so far during the day, which is also a record high for the counter. The stock had hit a low of Rs 1,374.50 so far during the day. The stock hit a 52-week low of Rs 838 on 18 January 2017.

Hindustan Unilever (HUL)'s earnings before interest, tax, depreciation and amortization (EBITDA) rose 24% to Rs 1680 crore in Q3 December 2017 over Q3 December 2016.

HUL's chairman Harish Manwani said that the company delivered another strong performance in the quarter, with broad based growth across categories and further improvement in margins. HUL remains positive about the mid-term outlook of the industry and will continue to invest strongly in its core brands and developing categories of the future. There are early signs of commodity cost inflation and the company will further sharpen its focus on cost effectiveness programs and manage its business dynamically for competitiveness and sustained profitability.

Hindustan Unilever is India's largest fast moving consumer goods (FMCG) company.

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