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HUL stock hits 52-week high on robust Q1 earnings

HUL stock hits 52-week high on robust Q1 earnings

The stock has risen 28.27 percent year-on-year.  On an year-to-date basis, the stock is up 38.41 percent.

The Hindustan Unilever stock on Wednesday hit a fresh yearly high on its healthy Q1 earnings announced a day ago.

The stock reached a fresh 52-week high of 1,195 in early morning trade on the BSE.

At 1414 hours, the HUL stock was trading almost 1 percent or 11 points lower at 1146 level.

It opened at Rs 1,191 and hit an intra-day low of 1,140 on the BSE.

The stock closed 0.46 percent lower on the BSE. The stock has risen 28.27 percent year-on-year. On an year-to-date basis, the stock is up 38.41 percent.

On Wednesday, HUL, considered a bellwether for the FMCG sector posted a 9.3 percent rise in standalone net profit at Rs 1,283 crore for the April-June period.  This was more than Bloomberg consensus estimates, which had pegged net profit at Rs 1187 crore.

HUL's earnings before interest, tax, depreciation, and amortisation (EBITDA) stood at Rs 1,866 crore for the June quarter, higher than Bloomberg consensus estimates of Rs 1,711 crore. The EBITDA margin was 21.9 per cent for the quarter.

The company had posted a standalone net profit of Rs 1,174 crore in the corresponding period of the previous fiscal, Hindustan Unilever Ltd (HUL) said in a BSE filing. Net sales during the quarter under review stood at Rs 9,094 crore as against Rs 8,662 crore a year ago, up 4.98 per cent.

HUL's home care segment during the period was up 5.94 per cent to Rs 3,047 crore as against Rs 2,876 crore of the corresponding period last fiscal on account of strong growth across mass and premium laundry.

Hindustan Unilever is engaged in fast-moving consumer goods business comprising home and personal care, foods and refreshments.

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
Published on: Jul 19, 2017, 2:34 PM IST
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