Hindustan Unilever Shares Drop over 5 Pc After Q4 Earnings

New Delhi, May 4 (PTI) Shares of Hindustan Unilever closed over 5 per cent lower on Monday after the company reported a 3.93 per cent decline in consolidated profit for the fourth quarter due to coronavirus crisis from mid-March.

The stock tanked 5.16 per cent to close at Rs 2,082.30 on the BSE. During the day, it plunged 5.88 per cent to Rs 2,066.55.

On the NSE, it tumbled 4.91 per cent to settle at Rs 2,087.05.

In terms of traded volume, 2.25 lakh shares were traded on the BSE and over 84 lakh on the NSE.

FMCG major Hindustan Unilever on Thursday reported a decline of 3.93 per cent in consolidated profit to Rs 1,512 crore for the fourth quarter, impacted by the coronavirus crisis from mid-March.

The company had posted a net profit of Rs 1,574 crore in the January-March period of the previous fiscal.

Sales during the quarter under review stood at Rs 9,055 crore, down 9.61 per cent from Rs 10,018 crore in the corresponding period a year ago, Hindustan Unilever Ltd (HUL) said in a regulatory filing.

"The spread of COVID-19 impacted the business from mid-March, which culminated into scaling down of operations post the national lockdown. Domestic Consumer Growth declined by 9 per cent with a decline of 7 per cent in underlying volume growth. Reported EBITDA margin reduced by 40 bps," said HUL.

Domestic equity markets were closed on Friday for 'Maharashtra Day'.

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