Hindustan Unilever Restricted (HUL) shares fell greater than 5 per cent on Monday, after the fast-moving shopper items main reported a 3.5 per cent fall in its internet revenue for the January-March interval. In a regulatory submitting after market hours on Thursday, the corporate stated its internet revenue was Rs 1,515 crore within the quarter ended March 31, because the unfold of the coronavirus (COVID-19) pandemic impacted its enterprise from mid-March. On the BSE, Hindustan Unilever shares dropped as a lot as 5.27 per cent to Rs 2,080 apiece on Monday.
Hindustan Unilever’s income fell almost 10 per cent to Rs 9,055 crore within the January-March interval.
HUL’s board proposed a ultimate dividend of Rs 14 per share, topic to shareholders’ approval. The corporate stated that the entire dividend for monetary 12 months 2019-20 amounted to Rs 25 per share.
In a press launch, Hindustan Unilever stated COVID-19 is having “an unprecedented influence on folks and the economic system”. Hindustan Unilever stated it had “moved at pace to help our a number of stakeholders and preserve our operations via the disaster and put together for progress in a new regular”.
The corporate stated it had structured its fast response in 5 areas: supporting folks, defending provide, serving demand, contributing to society, and sustaining monetary energy.
HUL stated it’s working at about 70 per cent of normative ranges, and is hopeful to enhance this example within the coming days.
At 1:07 pm, the HUL inventory traded 3.41 per cent decrease at Rs 2,120.80 apiece on the BSE, as in opposition to a 5.22 per cent fall within the benchmark S&P BSE Sensex index.