The board of directors of Hindustan Unilever Limited (HUL) has announced the decision to demerge its ice cream business. This decision has been taken after assessment by a committee of independent directors of the company. Let us inform you that on September 6, 2024, the Board of Directors had appointed an independent committee to evaluate in detail the prospects of the company’s ice cream business and make recommendations to the Board on the best way forward. Based on the recommendation of the independent committee, the Board of Directors has announced its decision to demerge the ice cream business at its meeting held on October 23, 2024.
Along with this, the company has released the results of the second quarter. Profit declined by 2.3 percent to Rs 2,595 crore in the quarter. However, revenue from sale of products increased by 2.36 percent to Rs 15,703 crore during this period. The company’s sales revenue in the same period a year ago was Rs 15,340 crore.
Hindustan Unilever’s total expenses in the September quarter stood at Rs 12,581 crore, which is 3.03 percent higher on an annual basis. During this period, the total income of the company increased by 2.14 percent to Rs 16,145 crore as compared to the same period a year ago.
declaration of dividend
The board of directors of Hindustan Unilever has declared an interim dividend of Rs 19. Apart from this, special dividend is of Rs 10. The record date for the purpose of determining eligibility for payment of interim and special dividend has been fixed as November 6, 2024.
What did the MD of the company say
Rohit Java, CEO and MD, Hindustan Unilever Limited, said- The September quarter saw a modest growth in demand for FMCG in urban markets, while gradual improvement continued in rural areas. In this context we performed competitively and profitably.
slowdown in stock
Talking about Hindustan Unilever shares, it closed at Rs 2658 on Wednesday, falling 0.90%. During trading the share price came up to Rs 2633.55. On April 16, 2024, the share fell to a low of Rs 2,170.25. This share reached a high of Rs 3,034.50 in September 2024. This is the 52-week high of the stock.