(Reuters) -Shares in Hindustan Unilever fell 7% on Thursday, tracking their worst day in nine months, after reporting quarterly earnings below estimates due to an urban slowdown, with analysts expecting the pain to continue in the near term.

Hindustan Unilever Ltd (HUL) shares fell nearly 6% following a 2.33% drop in consolidated net profit for the second quarter ending September. While revenue from product sales slightly increased, urban market demand slowed,

Hindustan Unilever Q2 Results Live : Hindustan Unilever declared their Q2 results on 23 October 2024, reporting a topline increase of 1.94% year-on-year, while profit saw a decline of 2.45%. Compared to the previous quarter, revenue grew by 1.39%, but profit decreased by 0.73%.

Shares in Hindustan Unilever , the Indian unit of UK's Unilever , fell 5% on Thursday, a day after the consumer goods maker reported quarterly earnings below market expectations due to a slowdown in urban sales growth.

Hindustan Unilever Ltd., India’s biggest household-products maker, reported second-quarter profit that missed expectations amid a lingering spell of weak demand for consumer goods.