(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 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%.

As a result of the volume growth miss, JPMorgan has lowered its financial year 2025 and 2026 Earnings Per Share (EPS) estimates by 3% each, on the back of marginal moderation in revenue forecasts.

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.

The domestic shares were off to a muted start on Thursday, as dull earnings and persistent foreign selling weighed, while consumer major Hindustan Unilever fell on smaller-than-expected September quarter profit.

Hindustan Unilever , the Indian unit of UK's Unilever , reported a smaller-than-expected quarterly profit on Wednesday as the consumer goods maker spent more on advertising to fend off stiff competition.