HUL Shares Drop 2% on Disappointing Q1 Performance
Hindustan Unilever’s shares declined over 2% after the company’s first-quarter earnings failed to impress investors. The company’s consolidated profit after tax for the June quarter rose by 6.9% to Rs 2,556 crore, showing a gradual recovery in the FMCG industry despite facing a challenging environment.
In the same quarter last year, the company had a consolidated net profit of Rs 2,391 crore. The total income for the first quarter was Rs 15,679 crore, compared to Rs 14,757 crore in the same period last year. However, total expenses were higher at Rs 12,167 crore compared to Rs 11,531 crore in the same quarter last year.
The FMCG markets are gradually recovering, and despite the challenging environment, HUL has delivered a resilient and competitive performance, with an increased EBITDA margin, as stated by HUL CEO and Managing Director Rohit Jawa.