Hindustan Unilever shares decline over 2% after earnings announcement

New Delhi: Shares of Hindustan Unilever Ltd fell over 2 per cent on Friday after the company reported a marginal decline in consolidated net profit for the second quarter ended September 30.

The stock declined 2 per cent to Rs 2,495.10 on the BSE. It slipped 2.12 per cent to Rs 2,493.85 on the NSE.

Hindustan Unilever on Thursday reported a marginal decline in consolidated net profit to Rs 2,657 crore for the second quarter ended September 30 amid subdued rural demand and heightened competitive intensity.

The company had posted a consolidated net profit of Rs 2,670 crore in the same quarter last fiscal, Hindustan Unilever Ltd (HUL) said in a regulatory filing.

Total income stood at Rs 15,806 crore in the quarter under review, compared to Rs 15,253 crore in the year-ago period, it added.

Total expense in the second quarter was higher at Rs 12,211 crore against Rs 11,965 crore a year ago.

"We delivered resilient and competitive growth whilst stepping up our EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) margin in a challenging operating environment, marked by subdued rural demand and heightened competitive intensity," HUL CEO and Managing Director Rohit Jawa said.