Shares of FMCG major HUL today fell by 2 per cent after the company reported lower-than-expected net sales growth of 3.56 per cent for the April-June quarter.
The stock fell by 2.04 per cent to settle at Rs 920.45 on BSE. During the day, it dipped 3.10 per cent to Rs 910.40.
At NSE, shares of the company went down by 2 per cent to close at Rs 921.95.
On the volume front, 3.47 lakh shares of the company were traded on BSE and over 30 lakh shares changed hands at NSE during the day.
"Net revenues 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 said in a report.
HUL today reported 9.79 per cent increase in standalone net profit at Rs 1,173.90 crore for the first quarter ended June, 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 said in a statement.
