 "HUL")
Shares of Hindustan Unilever Ltd on Tuesday went down by 4 per cent even as the company reported a 19.17 per cent increase in standalone net profit for the first quarter ended June 30, 2018.
The stock reversed its early gains and ended 4 per cent lower at Rs 1,683.75 on the BSE. During the day, it slumped 4.47 per cent to Rs 1,675.30.
On the NSE, shares of the company plunged 3.61 per cent to close at Rs 1,688.
The stock was the worst hit among the blue chips on both the key indices during the day.
The company's market valuation came down by Rs 1.51 billion to Rs 3.64 trillion.
In terms of equity volume, 300 thousand shares of the company were traded on the BSE and over 6100 thousand shares changed hands on the NSE during the day.
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"HUL delivered another strong quarter but that is somewhat par for the course now, considering its recent results delivery plus the stock's heady valuation. There was no massive surprise element this time round, though, to drive another leg of decisive upmove from an already elevated level, in our view.
"The stock had rallied 8-10 per cent each after 2Q-3Q FY18 results and up a massive 16per cent between 4Q FY18 report and now - we expect reaction to be more lukewarm this time round, given that there was nothing in 1Q FY19 report to prompt another round of earnings upgrade," JM Financial Institutional Securities said in a report.
FMCG major Hindustan Unilever yesterday reported a 19.17 per cent increase in standalone net profit at Rs 15.29 billion for the first quarter ended June 30, 2018, led by strong volume growth and sustained margin improvements.
The company had posted a net profit of Rs 12.83 billion in the April-June quarter a year-ago, HUL said in a BSE filing.
Its total income during the quarter under review stood at Rs 96.22 billion, up 3.07 per cent as against Rs 93.35 billion in the corresponding quarter a year ago.
