Hindustan Unilever lost 3.53% to Rs 1,691.55 at 12:45 IST on BSE on profit booking after the company declared good Q1 June 2018 result after market hours yesterday, 16 July 2018.
Meanwhile, the S&P BSE Sensex was up 55.06 points, or 0.15% to 36,379.89
On the BSE, 2.01 lakh shares were traded in the counter so far compared with average daily volumes of 64,000 shares in the past two weeks. The stock had hit a record high of Rs 1,779.95 in intraday trade today, 17 July 2018. The stock had hit a low of Rs 1,685.05 so far during the day. The stock hit a 52-week low of Rs 1,131 on 17 July 2017.
Ahead of the result, shares of Hindustan Unilever (HUL) had gained 3.94% to settle at Rs 1,753.85 on 16 July 2018 from its close of Rs 1,687.25 on 10 July 2018.
HUL reported 19.17% rise in net profit to Rs 1529 crore on 11.37% rise in net sales to Rs 9356 crore in Q1 June 2018 over Q1 June 2017. The financial results for the quarter have been prepared in compliance with the Indian Accounting Standards (Ind AS). The company has integrated Foods and Refreshment divisions in this quarter. Accordingly, the company will report its results in the following three operating segments viz. Home Care, Beauty & Personal Care and Foods & Refreshment, along with a residual segment for 'Others'.
HUL said that cost of goods sold were lower on account of mix, judicious pricing and a strong savings program. Advertising and promotions were stepped up to support innovations, activations and respond to competitive actions in the market place. Earnings before interest, tax, depreciation and amortisation (EBITDA) at Rs 2251 crores was up by 21%. Profit after tax before exceptional items, PAT (bei), at Rs 1567 crore was up by 21%.
Sanjiv Mehta, Chairman and Managing Director, HUL said that the company achieved double digit volume growth across all three divisions and further improvement in margins. This quarter also saw the integration of Foods and Refreshment divisions which will the company increase organisational agility and better serve local consumers while harnessing the advantages of global scale.
In the near term, we see gradual improvement in demand and our focus will continue to be on innovations and market development.
Crude volatility and currency led inflation are key risks going ahead and the company will continue to manage our business dynamically while driving operational efficiencies.
HUL is India's largest fast moving consumer goods company.
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