In the opening bell session, HUL hit a new 52-week high today at Rs.1543.25, up some 2.5%. It has since then come off the high but remains firmly in the green.
The market has obviously given a thumbs up to its solid Q3FY18 performance. It reported a 11% (YoY) rise in revenue at Rs.9097 crore with net profit showing a good 14% jump at Rs.1351 crore.
Operating profit was up 24% at Rs.2048 crore while margins showed a healthy growth from 20.1% to 22.5%.
The growth was led by a 11% rise in volumes. Looks like the worst is indeed over the company and we will now see growth in the back of cost efficiencies and better volumes.
The management’s commentary for the future is also pretty bullish.
The company ended FY18 with a 2% rise in revenue at Rs.34,619 crore and net profit came in at Rs.5237 crore, up 17%.