New Delhi, Jul 22 (PTI) Shares of FMCG major Hindustan Unilever Ltd (HUL) on Wednesday declined by 3 per cent as the company said it expects a couple of turbulent quarters going forward.

The stock dipped 3.06 per cent to close at Rs 2,248.20 on the BSE. During the day, it tanked 3.36 per cent to Rs 2,241.

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On the NSE, it was down 2.99 per cent to close at Rs 2,248.50.

HUL was the top loser in the Sensex pack.

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The company expects a couple of turbulent quarters going forward and the firm's objective would be to navigate it in the most agile manner, HUL Chairman and Managing Director Sanjiv Mehta said on Tuesday.

The company is also banking on the September quarter to get a better picture of the underlying demand, provided there are not many vertical lockdowns that are happening currently in different parts of the country.

Mehta said a true picture of the inherent demand picking up would emerge when discretionary segments such as colour cosmetics, skin care and deodorants start finding traction, which would "allude to the fact that supply led disruptions are over" and places from where these items sell, like malls and modern trade stores are back in operations; and people are now starting to step out.

"So they are spending more on categories like these. I would say that would be a good pointer of the true shape of the economy, because essentials will carry on. Those are the things which will lead to, not just the economy, but also the consumer confidence," he said while speaking to reporters during the company's earnings conference call.

Consumer sentiment will dramatically improve once the vaccine is found. Till then, as the number of infections in the country keeps going up there will always be fear and concern. It is very natural, Mehta added.

The company on Tuesday reported a 5.68 per cent increase in consolidated net profit at Rs 1,897 crore for the first quarter ended June 30.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)