HUL slides after Q4 results

Hindustan Unilever fell 1.01% to Rs 1675.70 at 9:21 IST on BSE after net profit rose 13.84% to Rs 1538 crore on 8.95% rise in net sales to Rs 9809 crore in Q4 March 2019 over Q4 March 2018.

The result was announced after market hours on Friday, 3 May 2019.

Meanwhile, the S&P BSE Sensex was down 379.83 points, or 0.97% to 38,583.43.

On the BSE, 8,966 shares were traded in the counter so far compared with average daily volumes of 89,000 shares in the past two weeks. The stock had hit a high of Rs 1693.90 and a low of Rs 1668.50 so far during the day. The stock hit a 52-week high of Rs 1,870.50 on 17 December 2018. The stock hit a 52-week low of Rs 1,443.35 on 4 May 2018.

Prudent management of volatility in costs (crude and currency led) along with improved mix and operating leverage has driven margin improvement. Earnings before interest, tax, depreciation and amortization (EBITDA) at Rs 2321 crore, was up by 13% in Q4 March 2019 over Q4 March 2018.

The company posted a 7% rise in volume for the quarter, the company said in filing. The domestic consumer growth was recorded at 9%, the company added.

Sanjiv Mehta, chairman and managing director commented: "We have delivered a strong performance for the quarter despite some moderation in rural market growth. Our focus on strengthening the core and leading market development has been consistently delivering good results. We have now grown top line and bottom line for the eighth consecutive year and our 2019 results are a testament to both our strategy and execution. With our 'Re-imagining HUL' agenda, we are well poised to build an organization which is purpose led and future fit. Given the macro-economic indicators,near-term market growth has moderated. However, medium-term outlook stays positive. As an organization we are well positioned to respond with speed and agility to meet the needs of our consumers. We remain focused on our strategic agenda of delivering consistent, competitive, profitable and responsible growth."

Further, the company announced the appointments of Anuradha Razdan as executive director, human resources, and Dr Vibhav Sanzgiri as executive director, research and development. Both Anuradha and Dr Sanzgiri will join HUL's management committee with effect from 1 June 2019.

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

Powered by Capital Market - Live News