HUL shares up over 2 pc after Q2 earnings

FMCG major Hindustan Unilever (HUL) on Tuesday advanced over 2 per cent on bourses after the company reported a 21.18 per cent rise in standalone net profit for the quarter ended on September 30.

The stock rose by 2.41 per cent to close at Rs 2,063.35 on the BSE. During the day, it jumped 3 per cent to Rs 2,077.

On the NSE, the scrip gained 2.27 per cent to close at Rs 2,060.05.

"Hindustan Unilever's (HUL) Q2 FY20 revenue growth came in line, while EBITDA and PAT spurt of 21 per cent and 21.5 per cent YoY, respectively, surpassed our estimates," according to a report by Edelweiss Research.

In terms of traded volume, 2 lakh shares of the company were traded on the BSE and 57 lakh shares on the NSE during the day.

HUL on Monday posted a 21.18 per cent rise in standalone net profit to Rs 1,848 crore for the quarter ended on September 30, 2019, mainly driven by home care, beauty and personal care verticals.

The company had reported a net profit of Rs 1,525 crore for the corresponding period of the previous fiscal, HUL said in a filing to the BSE.

Standalone sales during the quarter under review stood at Rs 9,708 crore as against Rs 9,138 crore for the same period year ago.