India’s largest FMCG company hasn’t met market expectations
Advertisement
Advertisement
Shares of Hindustan Unilever fell 1.6 percent to 890.95 rupees after hitting a high of 917 rupees. More than 38 lakh shares were traded compared with a 5-day average of 7.8 lakh shares on the
Hindustan Unilever said its first quarter Net Profit rose to 1,059 crores compared with 1,057 crores in the year ago quarter. The number was substantially below expectations of 1,110 crore rupees.
Similarly, Sales during April-June quarter stood at 8,105 crore rupees versus 7,716 crore rupees a year ago. Analysts had estimated a number of 8,320 crores. Hindustan Unilever said some of its factories in Himachal Pradesh and Uttaranchal had to pay higher excise duties after the 10-year moratorium got over.
Other financial parameters such as Operating margins were ahead of estimates: 18.6 percent vs 17.1 percent.
Advertisement
(Image credits: indianonlineselle)
Advertisement
- I quit McKinsey after 1.5 years. I was making over $200k but my mental health was shattered.
- Some Tesla factory workers realized they were laid off when security scanned their badges and sent them back on shuttles, sources say
- I tutor the children of some of Dubai's richest people. One of them paid me $3,000 to do his homework.
- Why are so many elite coaches moving to Western countries?
- Global GDP to face a 19% decline by 2050 due to climate change, study projects
- 5 things to keep in mind before taking a personal loan
- Markets face heavy fluctuations; settle lower taking downtrend to 4th day
- Move over Bollywood, audio shows are starting to enter the coveted ‘100 Crores Club’