Hindustan Unilever Q3 net profit rises 22 pct to Rs 1,062 crore

Written by PTI | Mumbai | Updated: Jan 27 2014, 21:30pm hrs
Hindustan UnileverHindustan Unilever said in a statement it had made a net profit of Rs 10.6 billion ($169.63 million) in the quarter ending Dec 31, 2013. AP
FMCG major Hindustan Unilever (HUL) today posted a 21.91 per cent increase in net profit to Rs 1,062.31 crore in the quarter ended December 31.

The company had posted a profit of Rs 871.36 crore in the third quarter of the previous financial year.

Net sales rose 9.38 per cent to Rs 7,037.78 crore from Rs 6,433.69 crore, Hindustan Unilever Ltd (HUL) said in a statement.

"Our growth has been competitive and profitable and the results are a reflection of how we dynamically managed the business despite the headwinds in the environment," Hindustan Unilever Chairman Harish Manwani said in the statement.

During the quarter, the company's domestic consumer business grew 10 per cent, with a 4 per cent underlying volume growth.

Hindustan Unilever shares gained 2.15 per cent to Rs 578.05 on the BSE.

Hindustan Unilever Q3 net profit up 22 pct, beats forecasts

(Reuters) Hindustan Unilever Ltd's said on Monday its third-quarter net profit rose 22 percent year-on-year, beating analysts' forecasts, even as its sales lagged estimates.

The Indian unit of Anglo-Dutch Unilever Plc said in a statement on Monday it had made a net profit of 10.6 billion Indian rupees ($169.63 million) in the quarter ending Dec. 31 compared to a profit of 8.7 billion rupees in the same period a year ago.

Sales at India's largest manufacturer of household products and consumer goods rose 9.5 percent year-on-year to 70.4 billion rupees, slightly lower than estimates.

Analysts had expected a net profit of 9.3 billion rupees and net sales of 71.3 billion rupees for the quarter, according to Thomson Reuters Starmine Estimates.