The stock tanked 5.78% to Rs 2,504.15 on the BSE.
New Delhi: Shares of FMCG major Hindustan Unilever Ltd (HUL) on Thursday tumbled nearly 6% after the firm reported a 2.33% decline in consolidated net profit for the second quarter ended in September.
The stock tanked 5.78% to Rs 2,504.15 on the BSE.
At the NSE, it plunged 5.86% to Rs 2,503.25.
During the morning trade, the stock emerged as the biggest laggard among the Sensex and Nifty firms.
Hindustan Unilever Ltd on Wednesday reported a 2.33% decline in consolidated net profit at Rs 2,595 crore for the second quarter ended in September 2024, impacted by moderation in demand from the urban market.
The company had logged a net profit of Rs 2,657 crore in the July-September quarter a year ago, HUL said in a regulatory filing.
However, revenue from product sales was up 2.36% at Rs 15,703 crore in the September quarter, from Rs 15,340 crore in the year-ago period, HUL which owns power brands such as Surf, Rin, Lux, Pond’s, Lifebuoy, Lakmé, Brooke Bond, Lipton and Horlicks said.
“In the September quarter, FMCG demand witnessed moderating growth in urban markets, while rural continued to recover gradually. In this context, we delivered a competitive and profitable performance,” HUL CEO and Managing Director Rohit Jawa said.
