HUL profit jumps 121% on Kwality Wall’s demerger — yet the stock drops
Hindustan Unilever shares fell up to 3.8% after quarterly profit from continuing operations dropped 30% to 21.18 billion rupees, despite a 121% surge in reported profit due to a one-off gain from the Kwality Wall’s demerger. The company raised ad spend and announced a marketing overhaul, while underlying sales rose 5%.