MARKET OVERVIEW :
Nifty 50 remains below 24,300; top loser HUL declines nearly 4%: HUL Q4 Results below:
Indian benchmark indices Nifty 50 and Sensex opened today’s trade session in the red. Nifty 50 opened at 24,277.90, while Sensex opened at 80,058.43.
Nifty 50 opened today’s trade session 1,999.45 points away from its record high of 26,277.35.
Overnight, Wall Street indices ended higher. Asian stocks were trading in a tight range in early trade today.
Markets today are reacting to LTIMindtree, Bajaj Housing Finance, Dalmia Bharati earnings.
HUL, L&T Tech, Axis Bank, Persistent Systems, Tech Mahindra, Nestle India, Mphasis, Laurus Labs, ACC, SBI Card, are among the companies reporting their quarterly earnings today.
Biocon, 360 ONE WAM, Can Fin Homes, Tamilnad Mercantile Bank, Spandana Sphoorty, Supreme Petrochem, Dalmia Bharat, Rallis India, Syngene International, GNA Axles are among the other stocks in focus today.
Hype Around Obesity Drugs May Not Mean Gains For Indian Pharma: InCred
The buzz around GLP-1 drugs — used for treating diabetes and now increasingly associated with weight loss — has sparked investor interest in Indian pharma manufacturers.
HUL Q4 Results: Numbers meet expectations; Board approves dividend of ₹24 per share: But HUL shares decline by 4 %
HUL’s Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) increased by 1% during the March quarter to ₹3,466 crore. The figure is marginally lower with the consensus estimates of analysts, which pegged the figure to be ₹3,505 crore.
FMCG giant Hindustan Unilever Ltd. reported results for the January-March period on Thursday, April 24, which were in-line with analyst expectations. The stock is up 1.5% in trading after the results announcement.
The Mumbai-based company reported revenue of ₹15,213 crore during the March quarter, which was 2.4% higher compared to the same quarter last year. A CNBC-TV18 poll had projected HUL’s revenue to grow by 2% during
HUL’s Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) increased by 1% during the March quarter to ₹3,466 crore. The figure is marginally lower with the consensus estimates of analysts, which pegged the figure to be ₹3,505 crore.
The company’s EBITDA margin stood at 22.8%, in comparison to 23% last year. The CNBC-TV18 poll had pegged the figure at 23.1%.
Net profit for the period stood at ₹2,493 crore.
Here’s how Hindustan Unilever’s various segments fared during the quarter:
Home care business saw revenue of ₹5,815 crore from ₹5,709 crore last year.
Beauty & Wellbeing business revenue stood at ₹3,265 crore from ₹3,062 crore last year.
Personal Care revenue stood nearly flat at ₹2,126 crore from ₹2,063 crore last year.
Foods business revenue stood at ₹3,896 crore, nearly the same as last year’s figure of ₹3,910 crore.
The company’s board has also approved a final dividend of ₹24 per share, taking the full year payout to shareholders to ₹53 per share. The company’s has not shared any record date for the said dividend yet.
Shares of Hindustan Unilever are trading 1.4% higher post the results announcement at ₹2,455.
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