HUL drops 4% post Jul-Sep earnings

Net profit for September quarter rose 8% to Rs 988 crore

Shares of Hindustan Unilever was down 4% at Rs 727 after investors booked profits at higher levels post its July-September earnings. The stock was in an uptrend ahead of its September quarter earnings.

The FMCG major reported 8% rise in net profit at Rs 988 crore for the quarter ended September 30, 2014 compared with Rs 914 crore in the same quarter last year.

Total income for the quarter was also higher at Rs 7,639 crore compared with Rs 6,893 crore in the quarter ended September 30, 2013.

However, volume growth during the September quarter was lower at 5% compared with 6% in the previous quarter ended June 30, 2014.

The board has announced a interim dividend of Rs 6/- per equity share of face value Re 1/-each.

The stock opened at Rs 763 and touched a low of Rs 725. At 2:55PM, over 2.2 million shares were traded on the BSE and NSE.