Hindustan Unilever Shares Tumble Amid Profit Decline

Hindustan Unilever Ltd (HUL) shares fell nearly 6% following a 2.33% drop in consolidated net profit for the second quarter ending September. While revenue from product sales slightly increased, urban market demand slowed, leading to a significant market valuation drop of Rs 36,430.41 crore.

Shares of Hindustan Unilever Ltd (HUL), a major player in the FMCG sector, plunged nearly 6% on Thursday after the firm reported a 2.33% decrease in consolidated net profit for the second quarter ending September.

On the Bombay Stock Exchange, the stock closed at Rs 2,502.95, after dropping as much as 7.70% during intraday trading. On the National Stock Exchange, it fell 5.81% to Rs 2,504.75 per share. This decline made HUL the most significant laggard among Sensex and Nifty companies.

The company's market valuation witnessed a sharp decline of Rs 36,430.41 crore, settling at Rs 5,88,090.94 crore. Despite a 2.36% year-on-year rise in product sales revenue to Rs 15,703 crore, the urban market's demand moderation impacted profits, according to CEO Rohit Jawa.

(With inputs from agencies.)