due diligence has been done and that the new arrangements reflect fair payment for the services and benefits that HUL will continue to receives," it added.
HUL Chairman Harish Manwani said in an environment that continued to be challenging, the company has delivered another quarter of broad based growth and margin expansion.
However, Angel Broking FMCG Research Analyst V Srinivasan said: "HUL has delivered a disappointing set of numbers..with 5 per cent underlying volume growth for the domestic consumer business being the lowest in three years."
Shares of HUL today closed at Rs 481.55 on the BSE, down 2.88 per cent from their previous close after falling 5 per cent intra-day. In anticipation of earnings, the HUL counter had rallied to Rs 505.40 intra-day.
The company said its domestic consumer business grew at 15 per cent during the third quarter ended December 31, 2012, as compared to the same period of previous fiscal.
"The business is consistently winning in the marketplace by remaining sharply focused on the needs of our large consumer base and successfully leveraging Unilever's strong global innovation pipeline and best practices," Manwani added.
During the period under review, the company's sales of soaps and detergents grew by 20 per cent as against the same period of 2011-12 fiscal.
Other segments like personal care products and beverages grew by 13 per cent and 18 per cent respectively, the company said.
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Hindustan Unilever Q3 rises, shares fall on higher royalties
MUMBAI, Jan 22 (Reuters) - Hindustan Unilever Ltd (HUL) , India's largest consumer goods maker, reported a 16 percent jump in third-quarter net profit, but low volume growth and a rise in royalty payments knocked its shares down as much as 5 percent.
Less discretionary spending among consumers cut sales of products such as packaged foods and personal care items, but higher prices and lower raw material costs aided margins.
The Indian unit of Anglo-Dutch conglomerate Unilever Plc said its net profit rose to 8.7 billion rupees ($161.7 million) for the fiscal third quarter ending Dec. 31, from 7.5