HUL shares fall on profit-booking; down nearly 1%
Mumbai: Paring early gains, shares of FMCG major Hindustan Unilever on Monday closed down by nearly 1 percent on profit-booking, even as the company reported over 13 percent rise in net profit for the September quarter.
After surging 4.33 percent to Rs 619.95 in intra-day trade on the BSE, HUL closed at Rs 589.35, down 0.82 percent.
The stock settled 0.65 percent lower at Rs 590.10 on the National Stock Exchange.
The broader market was also weak, with the BSE benchmark index Sensex ending the day 0.55 percent down at 20,570.28.
On Saturday, Hindustan Unilever had reported 13.24 percent rise in net profit at Rs 913.8 crore for the September quarter, up from Rs 806.92 crore in the year-ago period.
During the quarter, the company logged net sales of Rs 6,747.2 crore up from Rs 6,155.41 crore during the same period last year.
Hindustan Unilever, which sells brands like Lux, Dove, Rin and Surf, among others, said it has seen a growth of 10 percent in revenue terms in its domestic consumer business with underlying volume growth of 5 percent.
The market growth for the industry is in mid single-digit in revenue terms and the volume growth is very low, the company had said.
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