Shares of FMCG major Hindustan Unilever today erased all early gains and ended lower on profit-booking.
The scrip ended 0.46 per cent lower at Rs 1,152.90 on the BSE. During the day, the stock gained 3.18 per cent to Rs 1,195.10 -- its 52-week high.
On the NSE, shares of the company closed 0.30 per cent down at Rs 1,154.35.
On the volume front, 2.32 lakh shares of the company were traded on the BSE and over 47 lakh at the NSE during the day.
Hindustan Unilever yesterday posted an over 9 per cent rise in its standalone net profit at Rs 1,283 crore for April-June while some of its business verticals saw a muted quarter due to 'destocking' in view of the GST implementation from July 1.
The company had posted a standalone net profit of Rs 1,174 crore in the corresponding period of the previous fiscal, Hindustan Unilever Ltd (HUL) said in a BSE filing.
Net sales during the quarter under review stood at Rs 9,094 crore as against Rs 8,662 crore a year ago, up 4.98 per cent.
"During the quarter, trade sentiment remained cautious, particularly in the run-up to GST implementation. Despite high promotional intensity, stock pipelines remained low and varied across categories, channels and geographies," HUL said.
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