Shares of FMCG-major HUL declined more than three per cent in the morning trade on Saturday, a day after the company reported its December quarter earnings.
On Friday, the company reported a 1.08 per cent increase in consolidated net profit at ₹2,508 crore in the third quarter ended December 2023.
Its revenue from sales of products was slightly down at ₹15,259 crore in the December quarter. The company's HUL's total expenses in the given period was marginally higher at ₹12,305 crore.
HUL shares were trading at ₹2,482.50 apiece on the BSE, down 3.20 per cent over its previous close.
Similar movement was seen on the NSE as well, where the stock opened at ₹2,519.95, then fell to ₹2,482.10 apiece in early deals, down 3.24 per cent.
The company's shares declined even as the broader market was trading in the positive territory with gains of 0.17 per cent.
HUL's consolidated total income went up marginally by 0.47 per cent to ₹15,781 crore in the quarter under review.