GSK merger became a pain killer for HUL
- Hindustan Unilever’s (HUL) first-quarter earnings showed a 7% increase in profit after tax, despite the blues of coronavirus-induced lockdown.
- GSK merger helps mask the pain; total sales grows 4%
- The share price of fast-moving consumer goods major ended a percent lower ahead of the earnings even as the Sensex rallied over 500 points.
Revenue from every segment, except food and refreshment, took a beating as demand went down and supply was choked even for essentials.
|Beauty & Personal Care||₹4039||-11.9%|
|Foods & Refreshment||₹2958||34%|
The street was expecting a 2% fall in revenue. The share price of fast-moving consumer goods major ended a percent lower ahead of the earnings when the Sensex rallied over 500 points.
"Hygiene and Nutrition constituting, 80% of our portfolio, delivered healthy mid-single digit domestic consumer growth," Chief Executive Officer (CEO) said in a statement to the exchanges.
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HUL CEO says the product inventory range will be smaller and simpler hereon— analysts believe others may have the same plan