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Hindustan Unilever Ltd and Axis Bank were down 1.75 per cent ( ₹2,425) and 2.67 per cent respectively after they missed estimates for the fourth quarter . HUL was trading at ₹2,425 while Axis Bank was trading at ₹857.50 at 10.45 AM on Friday on BSE.
Hindustan Unilever reported a net profit of ₹2,552 crore in Q4, while revenue rose 10.6% to ₹14,893 crore. While the net profit was almost in line with estimates, the revenue lagged behind estimates
Axis Bank reported a net loss of ₹5,728 crore for Q4 FY23 owing to a one-time exceptional item of ₹12,490 crore for the integration of Citibank India’s consumer banking business. The exceptional item — comprising the amortisation of intangibles and goodwill equal to the purchase value paid — was charged to the profit and loss account.
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