HUL slips after Q3 earnings

Hindustan Unilever fell 0.92% to Rs 1734 at 9:34 IST on BSE after net profit rose 8.9% to Rs 1444 crore on 12.4% increase in net sales to Rs 9357 crore in Q3 December 2018 over Q3 December 2017.

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

Meanwhile, the S&P BSE Sensex was down 54.76 points, or 0.15% to 36,319.32.

On the BSE, 29,000 shares were traded in the counter so far compared with average daily volumes of 1.40 lakh shares in the past two weeks. The stock had hit a high of Rs 1768.65 and a low of Rs 1748.10 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 1,281.60 on 16 March 2018.

Hindustan Unilever's (HUL) earnings before interest, tax, depreciation and amortisation (EBITDA) rose 22% to Rs 2046 crore in Q3 December 2018 over Q3 December 2017. Prudent management of volatility in costs (crude and currency led) along with improved mix and operating leverage has driven margin improvement, the company said.

Sanjiv Mehta, chairman and managing director, said that that company has delivered another strong performance in the quarter, with double digit volume growth and improvement in margins. HUL's focus on strengthening the core and leading market development by tapping into emerging trends has been yielding results across categories. In the near term, demand is likely to be stable. The company will keep a close watch on the macro-economic environment and respond with agility. HUL remains focused on its strategic agenda of delivering consistent, competitive, profitable and responsible growth.

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

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