Hindustan Unilever shares gained almost 1 per cent on the BSE at opening bell after the fast moving consumer goods giant, post market hours on Tuesday, reported a 7.17 per cent annual increase in net profit to Rs 1,881 crore in April-June quarter. The company had reported profit of Rs 1,755 crore in the same quarter last year. The Hindustan Unilever shares soon gave up its gains due to a bout of profit-booking at hiigher levels. At 9:40 am, the shares of Hindustan Unilever were trading at Rs 2261, down by Rs 57 or 2.4 per cent, on the BSE.
Hindustan Unilever's revenue from operations rose 4.2 per cent to Rs 10,406 crore during the quarter under review.
Earnings before interest, tax, depreciation and amortization (EBITDA) or operating profit for the quarter was flat at Rs 2,644 crore, while the EBITDA margin or operating profit margin declined by 110 basis points, Hindustan Unilever said in a filing to the exchanges.
The BSE Sensex was trading at 37,799, lower by 133 points or 0.3 per cent and the NSE Nifty was at 11,122.90, down 35 points or 0.3 per cent at the time.