Hindustan Unilever (HUL) shares slid as much as 6 per cent intraday after the FMCG major announced 22 per cent year-on-year (yoy) fall in its net profit figures to Rs 971.40 crore for the quarter ended December 31, 2015. The company earned Rs 1,252.17 crore in the corresponding quarter a year ago.
At 2.58 pm, HUL shares were trading 3.24 per cent down at Rs 799.70. The scrip opened at Rs 828 and had touched a high and low of Rs 828 and Rs 776.60, respectively, in trade so far. Later, the scrip settled 2.70 per cent down at Rs 804.15.
HUL shares also hit their new 52-week of Rs 771 on Friday.
Total Income of the company increased from Rs 7,894.39 crore for the quarter ended December 2014 to Rs 8,120.60 crore for the quarter ended December 2015.
“The growth in the quarter continued to be impacted by the phasing out of Excise Duty incentives and price de-growth, as the benefit of lower commodity costs was passed on to consumers,” the company said in a BSE filing.