Hindustan Unilever (HUL) reported 9.8 per cent rise in net profit at Rs 1,173.90 crore for the quarter ended June 30, 2016 against Rs 1,069.16 crore in the corresponding quarter a year ago.
Brokerage firm Reliance Securities was expecting the first quarterly net profit of Rs 1,207.80 crore from HUL.
Net sales of the FMCG major increased by 3.62 per cent on year-on-year basis to Rs 8128.18 crore. It had posted net sales of Rs 7844.47 crore in the same quarter last year.
During April-June period, total expenses of the company increased to Rs 6,585.58 crore from Rs 6,407.39 crore a year ago.
In another filing, HUL also announced a key change in management committee of the company. Punit Misra, currently executive director and vice president, sales and customer development has decided to leave Hindustan Unilever to pursue an external opportunity.
Srinandan Sundaram, currently vice-president, skin care will take over from Punit as the executive director, sales and customer development and will joint HUL management committee. The change will be effective from September 1, 2016.
Shares of the company closed 2.04 per cent down at Rs 920.45.