Shares of Hindustan Unilever settle nearly 4 per cent lower post Q3 earnings

Shares of Hindustan Unilever settled lower by nearly 4 per cent on Saturday, after the company reported its quarterly earnings.

On Friday, the company reported a 1.08 per cent increase in consolidated net profit to Rs 2,508 crore in the third quarter ended December 2023.

Its revenue from sales of products was slightly down at Rs 15,259 crore in the December quarter. The company's HUL's total expenses in the given period were marginally higher at Rs 12,305 crore.

On the BSE, the shares of the company opened at Rs 2,514.15, touched an intraday low of Rs 2,465 and finally settled at Rs 2,469.30, down by 3.72 per cent over its previous close.

Similar movement was seen on the NSE as well, where the stock opened at Rs 2,519.95, then touched an intraday low of Rs 2,466.10 and settled for the day at Rs 2,470.00, lower by 3.72 per cent over its last close.

HUL's consolidated total income went up marginally by 0.47 per cent to Rs 15,781 crore in the quarter under review.