HUL’s shares dip 2.58 per cent

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Hindustan Unilever Shares of (HUL) fell 2.58 percent Friday morning after the Fast Moving Consumer Goods (FMCG) company reported. Double volume growth in the first quarter.

According to Motilal Oswal, “During the quarter, volumes grew by 3 percent year-on-year against an expectation of 7 percent growth, as rising inflation negatively impacts consumer spending.”

“In the first quarter of FY24, the rural market delivered volume growth. While we expect this momentum to continue, weather patterns remain a critical factor to watch. The Company is normalizing A&P expenses to revive volume and return it to pre-COVID levels, which is 9.8% of sales. Management stated about steering the expansion of gross profit margin toward ad spend to drive volume growth. New tawa, positive benefits in the primary quarter.

Shares fell 2.58 percent to 2,632.70 rupees at 11:20 am on the Bahrain Bourse.