Hindustan Unilever(HUL) reported an increase of 9.5 percent standalone net profit for the quarter ended June 21 and stood at Rs. 2,061 crore. However, in the last year, HUL has posted a net profit of Rs.1,881 crore for the same quarter. Therefore, reflects a clear increase in the performance of the products.
During the time of this deadly lockdown, HUL performed phenomenally and raises its revenue by 13 percent, and put up at Rs. 11,95 crore as against Rs. 10,560 crores. Overall performance of the company was in a growing phase. Precisely, demand increases by 12 percent in a home care division, mainly fabric wash. Moreover, the personal and beauty care division is raised by 13 percent which is a decent percentage of revenue generation.
The company has also launched a product named Pepsodent mouthwash which can fight against coronavirus infections.
The company still remains cautious about demand retrieval. Â They further declared that Lifebuoy tends to be a strong product during the tenure of this pandemic war. Consequently, double-digit growth in hand sanitizers and hand wash raises the profits of the company thereby fulfilling the consumer needs.
Our Trendy Analysis: Shares of HUL got crashed from top-notch by 2 percent after the declaration of their quarterly results.
Technical Levels
Hindustan Unilever has support at 2350 and resistance at 2470—2520
Break and sustain below 2350 levels may take the levels to 2280—2250
Traders should be cautious as the levels may go up.
Long-term Investors may hold.
If the levels go around 2300—2250, then a buying opportunity may arise for a handsome gain.
