Robust Q2 result boosts HUL

Hindustan Unilever (HUL) rose 1.20% to Rs 2,038.85 after the company announced robust Q2 September 2019 result after market hours yesterday, 14 October 2019.

Meanwhile, the S&P BSE Sensex was up 79 points or 0.21% to 38,293.89.

On the BSE, 9,479 shares were traded in the counter so far compared with average daily volumes of 79,111 shares in the past two weeks. The stock hit a high of Rs 2,052 and a low of Rs 2,032.85 so far during the day.

The stock hit a 52-week high of Rs 2,101.50 on 23 September 2019. The stock hit a 52-week low of Rs 1,500.40 on 15 October 2018.

FMCG major Hindustan Unilever (HUL) on a consolidated basis reported 22.73% rise in net profit to Rs 1814 crore on a 5.2% increase in total income to Rs 10229 crore in Q2 September 2019 over Q2 September 2018. The result was announced after market hours yesterday, 14 October 2019.

HUL said that earnings before interest, tax, depreciation and amortization (EBITDA) was Rs 2443 crore, up by 21% (16% on comparable basis after adjusting for accounting impact of Ind AS 116). Profit after tax (bei), at Rs 1832 crore was up 20%, and profit after tax, at Rs 1848 crore increased by 21% after incorporating the reduction in Corporate Tax rate.

Margin expansion was driven by improved mix, benign commodity price movement in our large segments and our savings agenda, HUL said.

HUL chairman and managing director Sanjiv Mehta said that the near-term outlook for demand especially in rural India remains challenging.

The board of directors declared an interim dividend of Rs 11 per share for the year ending 31 March 2020.

Hindustan Unilever is engaged in fast-moving consumer goods business comprising home, beauty and personal care, foods and refreshment.

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