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Hindustan Unilever's CEO Rohit Jawa announced plans to separate the company's ice cream business, which includes brands like Kwality Walls, Cornetto, and Magnum. He noted that while the ice cream sector is high growth, it requires significant investment and operates on low margins, with limited synergies with the grocery business. This decision aligns with Unilever PLC's earlier announcement regarding the separation of its global ice cream operations.
Hindustan Unilever Ltd., India's largest household-products manufacturer, reported a second-quarter net income of 26.1 billion rupees ($310 million), a 4% decline from the previous year. This figure fell short of analysts' expectations, which averaged 27.06 billion rupees, amid ongoing weak demand for consumer goods.
Hindustan Unilever Ltd reported a Q2 FY25 net profit of Rs 2,591 crore, down 2.4% from Rs 2,668 crore a year earlier, missing analyst expectations. Revenue rose 2.1% to Rs 16,145 crore, surpassing predictions, while EBITDA stood at Rs 3,647 crore with a healthy margin of 23.8%. A dividend of Rs 29 per share was declared amid challenges from high commodity inflation and muted demand.
Hindustan Unilever Ltd (HUL) has announced its decision to separate its ice cream business, following a recommendation from an Independent Committee after a thorough review. This restructuring aims to enhance focus on core areas such as Beauty, Foods, Health, and Wellbeing, aligning with Unilever PLC's global strategy to separate its ice cream operations.
The Nifty 50 has experienced a significant decline, dropping nearly 7% from its record high of 26,277, losing almost 2,000 points. Following a volatile Monday, the index faced a steep decline on Tuesday, with crucial support levels failing. Experts warn that if the Nifty falls below 24,000, it could plunge further to around 23,800. Global cues remain mixed, with stocks like Bajaj Finance and Zomato in focus.
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