Hindustan Unilever dips 2% on muted September quarter results

The outlook for HUL remains balanced as lower commodity costs and a gradual recovery in rural demand could be offset by reduced leverage on pricing and increased competition from smaller players.

Shares of fast moving consumer goods (FMCG) major, Hindustan Unilever (HUL) dipped 2 per cent to Rs 2,495 on the BSE in Friday’s intra-day trade after the company delivered a muted performance in September quarter (Q2FY24), amid subdued rural demand. The company is cautiously optimistic in the near-term.

The firm logged a net profit of Rs 2,656 crore in the second quarter, down 0.3 per cent from Rs 2,665 crore posted a year ago. Revenue, on the other hand, rose 3.1 per cent year-on-year (Y-o-Y) to Rs 15,364 crore. Sequentially, HUL’s revenue grew by 0.6 per cent and net