New Delhi, Shares of Hindustan Unilever Ltd defied the muted broader market trend and surged over 2 percent in morning trade on Friday after the FMCG major reported strong December quarter earnings. On the BSE, the stock opened at Rs 2,282.00, then jumped 2.42 percent and touched an early high of Rs 2,316.40 in initial deals. It was later trading at Rs 2,306.10, up 1.97 percent.
On the NSE, the stock opened at Rs 2,264.80, then touched a high of Rs 2,308.70, registering a gain of 2.07 percent over its last close.
On Thursday, Hindustan Unilever Ltd reported an 18.68 percent increase in consolidated net profit to Rs 2,300 crore for the third quarter ended December 2021. The company had posted a net profit of Rs 1,938 crore in the October-December period of the previous fiscal.
NSE 1.60 % delivered a resilient performance both on revenue and margins front despite the headwinds to rural demand and persistent material cost inflation.
While volume growth looks soft at 2 percent, it was well ahead of industry growth, which saw a decline. Margin improvement despite the gross margin pressure was commendable,” YES Securities said in a research note.
Revenue from sales during the quarter under review stood at Rs 13,196 crore, up 10.25 percent, against Rs 11,969 crore in the corresponding period a year ago, Hindustan Unilever Ltd (HUL) said in a regulatory filing.
