Stock Market update: Hindustan Unilever shares up by 2% post Q3 results

Stocks of Hindustan Unilever surge by 2% to Rs 2307.00 per equity share against the previous close at Rs 2261.80 per share, in today’s early trade.

The shares of Fast-moving consumer goods company Hindustan Unilever Limited surged by 2% at Rs 2307.00 per share against the previous close at Rs 2261.80 per share, in today’s early trade. the trade opened at Rs 2272.65 per equity share representing an increase of 0.48% and hitting a high of Rs 2317.00 per unit.

On Thursday, HUL released its financial results report for the quarter ending December 2021 and reported a net profit of Rs 2,243 crores as compared to Rs 1921 crores the previous year representing a 17% Y-O-Y growth rate. The total sales increased by 10% to Rs 12,900 crores from Rs 11,682 crores.

“Growth in the quarter was competitive and profitable with domestic consumer growth of 11%. Business fundamentals remained strong with handsome market share gains in all our divisions, both urban and rural markets and across price segments. Underlying volume growth at 2% was significantly ahead of the market”, the company said in a stock exchange filing.

Sanjiv Mehta, Chairman and Managing Director, HUL said: “We have delivered a strong and resilient performance in the quarter despite moderation in market growths and significant levels of commodity inflation. I am particularly pleased that the growth is extremely competitive with our market share gains being the highest in more than a decade. Our performance is reflective of our strategic clarity, strength of our brands, operational excellence, and dynamic financial management of our business.”

“In the near-term, operating environment will continue to remain challenging. In this scenario, we will manage our business with agility, continue to grow our consumer franchise whilst maintaining our margins in a healthy range. We remain confident of the medium to long term potential of Indian FMCG sector and HUL’s ability to deliver a Consistent, Competitive, Profitable and Responsible growth,” he further said.

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