INSUBCONTINENT EXCLUSIVE:
Hindustan Unilever (HUL) plunged over 1 per cent early Tuesday, a day after it came out with its earnings numbers.
The FMCG major posted a
19.17 per cent year-on-year increase in standalone net profit at Rs 1,529 crore for April-June, led by a strong volume growth and sustained
margin improvements.
Net profit came in at Rs 1,283 crore in the June quarter a year earlier.
Total income during the quarter under review
view on HUL, post the June quarter earnings
strong quarter with a volume growth of 12 per cent and earnings growth of 21 per cent YoY
with a target price of Rs 1,720
The recent outperformance has driven stock to stiff valuations
2,010.
According to Motilal Oswal, continued broad-based volume and strong EBITDA growth despite high advertisement spend were the key
highlights of the June quarter results
"HUL not only offers highest earnings visibility in the large-cap Indian consumer space, but also has by far the highest return ratios," it
while the BSE Sensex advanced 7 per cent during the same period.
