Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
»
1-min read

Hindustan Unilever Shares Rise After Q1 Results Meet Expectations

HUL’s standalone net profit jumped 14.8% year-on-year to Rs 1,755 crore during the June quarter, while revenue rose 6.6% to Rs 10,114 crore.

Trending Desk

Updated:July 24, 2019, 11:29 AM IST
facebookTwitterskypewhatsapp
Hindustan Unilever Shares Rise After Q1 Results Meet Expectations
Image for representation.
Loading...

Hindustan Unilever Ltd (HUL) shares rose over 1% in early trade on Wednesday, i.e. 24 July, after the fast-moving consumer goods (FMCG) company reported an increase of 14.4% in consolidated net profit to Rs 1,795 crore for the first quarter (Q1) ended June.

At 9:47 am, HUL shares were trading at Rs 1,709.75, up nearly 1%, on BSE after hitting an intra-day high of Rs 1,712.30. The stock has risen by merely 1.5% in the last one year.

HUL’s standalone net profit jumped 14.8% year-on-year to Rs 1,755 crore during the June quarter, while revenue rose 6.6% to Rs 10,114 crore.

However, the company’s volumes grew at the slowest pace in seven quarters, at 5%, amid a slowdown in consumption in the economy.

The fall in volume growth is on account of base effect of the goods and services tax (GST) rate cuts in the previous quarters, Sanjiv

Mehta, HUL’s chairman and managing director, said in a press conference after the earnings announcement. “It’s not a train wreckage as it is still a pretty decent growth for a company of our size.”

The company performed well at the operating level during the June quarter, with earnings before interest, tax, depreciation and amortization (Ebitda) rising 18% to Rs 2,647 crore and margins jumping 250 basis points to 26.2%.

“Against the backdrop of moderate market growth, HUL has delivered a resilient performance driven by the expansion of our consumer franchise, improvement in portfolio mix and sustained growth in margins,” said Mehta.

After the earnings, Credit Suisse maintained a ‘neutral’ call on the HUL stock, but raised the price target price to Rs 1,880 from Rs 1,850 per share. It expected growth to remain muted and margin expansion to get tougher for the company going ahead.

Citi also gave a ‘neutral’ rating on the stock while cutting the target price to Rs 1,850 from Rs 1,867 earlier. The business model has ample levers to flex, to ensure a steady outcome, it added.

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

Subscribe to Moneycontrol Pro and gain access to curated markets data, trading recommendations, equity analysis, investment ideas, insights from market gurus and much more. Get Moneycontrol PRO for 1 year at price of 3 months. Use code FREEDOM.

Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp

Live TV

Loading...
Countdown To Elections Results
To Assembly Elections 2018 Results