HUL falls for second day on Q1 result, down over 3%

Shares of FMCG major HUL fell for a second straight session today, down over 3 per cent, after the company reported lower-than-expected net sales growth of 3.56 per cent for April-June quarter.
The stock fell 3.36 per cent to Rs 889.50 on BSE.
At NSE, shares of the company lost 3.57 per cent to Rs 889.
It had lost 2 per cent in the previous session.
"Net revenue up 3.6 per cent y-o-y marginally below our expectation, underlying volume growth of 4 per cent y-o-y was below our estimate," Emkay Research has said in a report.
HUL yesterday reported a 9.79 per cent increase in standalone net profit at Rs 1,173.90 crore for first quarter, driven by growth across all segments and improvement in margins.

It also announced investment of about Rs 1,000 crore to set up a new manufacturing unit at Doom Dooma in Assam.
Hindustan Unilever's net sales were up 3.56 per cent at Rs 7,987.74 crore during the quarter under review as against Rs 7,712.71 crore a year before.
"Domestic consumer business growth was at 4 per cent, with 4 per cent underlying volume growth and operating margin expansion by 70 bps. The growth was broad-based across segments," HUL had said in a statement.