HUL, Axis Bank shares in the red after Q4 results

Hindustan Unilever Ltd and Axis Bank fell 1.75 percent (Rs. 2,425) and 2.67 percent respectively after missing fourth-quarter estimates. HUL was trading at $2,425 while Axis Bank was trading at $857.50 at 10.45am on BSE Friday.

Hindustan Unilever It posted a net profit of INR 2,552 crore in the fourth quarter, while revenue increased by 10.6% to INR 14,893 crore. And while net profit was roughly in line with estimates, revenue lagged estimates

Axis bank It announced a net loss of Rs.5,728 crore for the fourth quarter of FY23 due to a one-off exceptional item of Rs.12,490 crore of the integration of Citibank India’s consumer banking business. The extraordinary item – comprising the amortization of intangible assets and goodwill equal to the purchase price paid – has been charged to the profit and loss account.