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The market’s response to Hindustan Unilever’s (HUL) first quarter of financial year 2023-24 (Q1FY24) results has been negative. While there are some signs of rural demand revival, the results came in below Street expectations. Some analysts are downgrading target prices, and investors are looking at a longer timeframe for visibility in earnings and revenue growth.
HUL’s volumes grew 3 per cent year-on-year (YoY) - higher inflation still seems to be adversely impacting consumer spending but the bright spot was better in the rural segment. Seasonal issues could also have played a part in pulling down volumes.
HUL is hiking advertising &
