Hindustan Unilever shares drop over 5% after Q4 earnings

New Delhi:  Shares of Hindustan Unilever on Monday fell 5.5 per cent after it reported a 3.93 per cent decline in consolidated revenue for the fourth quarter because of coronavirus disaster from mid-March.

The inventory declined 5.47 per cent to Rs 2,075.40 on the BSE.

On the NSE, it tumbled 5.46 per cent to Rs 2,075. FMCG main Hindustan Unilever on Thursday reported a decline of three.93 per cent in consolidated revenue to Rs 1,512 crore for the fourth quarter, impacted by the coronavirus disaster from mid-March.

The firm had posted a internet revenue of Rs 1,574 crore within the January-March interval of the earlier fiscal.

Sales throughout the quarter beneath evaluation stood at Rs 9,055 crore, down 9.61 per cent from Rs 10,018 crore within the corresponding interval a 12 months in the past, Hindustan Unilever Ltd (HUL) stated in a regulatory submitting.

“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,” stated HUL.

Domestic fairness markets had been closed on Friday for ‘Maharashtra Day’.¬†

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