Hindustan Unilever fell 0.63% to Rs 837.50 at 9:44 IST on BSE after net profit rose 11.54% to Rs 1095.60 crore on 2.22% growth in total income to Rs 8733.09 crore in Q2 September 2016 over Q2 September 2015.
The result was announced after market hours yesterday, 26 October 2016.Meanwhile, the BSE Sensex was down 66.06 points, or 0.24%, to 27,770.45.
On BSE, so far 21,000 shares were traded in the counter, compared with average daily volume of 1.19 lakh shares in the past one quarter. The stock hit a high of Rs 846.25 and a low of Rs 832.40 so far during the day. The stock hit a 52-week high of Rs 954 on 9 September 2016. The stock hit a 52-week low of Rs 765.35 on 27 January 2016. The stock had underperformed the market over the past 30 days till 26 October 2016, falling 5.93% compared with 1.37% decline in the Sensex. The scrip had also underperformed the market in past one quarter, falling 7.20% as against Sensex's 1.32% decline.
The large-cap FMCG major has equity capital of Rs 216.43 crore. Face value per share is Re 1.
During the quarter, in a challenging context where market growth continued to be under pressure, Hindustan Unilever (HUL)'s domestic consumer business grew at 2% and EBITDA (earnings before interest, taxation, depreciation and amortization) margin expanded by 60 basis points (bps), the company said. HUL's profit after tax before exceptional items, PAT (bei) grew by 9% to Rs 1082 crore in Q2 September 2016 over Q2 September 2015.
EBITDA rose 5.1% to Rs 1405 crore in Q2 September 2016 over Q2 September 2015.
Harish Manwani, Chairman of HUL commented that in challenging market conditions, the company delivered another quarter of profitable growth. The company remains focused on market development, consumer led innovations and an even sharper drive on operating efficiences. With a good monsoon, the company expects a gradual improvement in market demand and remain positive on the mid-long term outlook for the industry, Manwani said. HUL's strategic agenda of delivering consistent, competitive, profitable and responsible growth remains unchanged, he added.
HUL said that in the near term, it expects gradual improvement in market growth due to good monsoon. HUL expects sales growth to be positively impacted by recovery in markets. Further, it expects rising trend in input costs. The company said it will focus on volume growth and on improving operating margin.
HUL is a leading fast moving consumer goods (FMCG) company.
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