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Hindustan Unilever shares up over 3% after Q1 earnings

LiveMint logoLiveMint 19-07-2017 PTI

New Delhi: Shares of FMCG major Hindustan Unilever Ltd (HUL) on Wednesday rose by more than 3% after the company reported an over 9% rise in stand alone net profit for the April-June period.

After making a positive opening, shares of the company further climbed 3.18% to Rs1,195.10—its 52-week high—on BSE.

At NSE, shares of the company went up by 3.21% to touch its one year high of Rs1,195.05. Hindustan Unilever Tuesday posted an over 9% rise in its stand alone net profit at Rs 1,283 crore for the April-June period, while some of its business verticals saw a muted quarter due to “destocking” in view of the GST (goods and services tax) implementation from 1 July.

The company had posted a standalone net profit of Rs1,174 crore in the corresponding period of the previous fiscal, Hindustan Unilever said in a BSE filing. Net sales during the quarter under review stood at Rs9,094 crore as against Rs8,662 crore a year ago, up 4.98%.

“During the quarter, trade sentiment remained cautious, particularly in the run up to GST implementation. Despite high promotional intensity, stock pipelines remained low and varied across categories, channels and geographies,” HUL said.

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