Hindustan Unilever Q1 net profit up by 20 %

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SummaryWith its quarterly results, Hindustan Unilever has beaten the market forecasts.

Hindustan Unilever Ltd, the Indian unit of Anglo-Dutch Unilever Plc , beat market forecasts with a 20 percent increase in quarterly net profit, but its shares fell over 5 percent as sales volumes disappointed investors. India's largest manufacturer of household products and consumer goods posted on Friday a net profit of 10.19 billion rupees ($172.36 million) for the quarter ended March 30, from an adjusted profit of 8.54 billion rupees a year ago. The adjusted profit is a median of estimates from 3 brokerages.

The company had reported an actual net profit of 13.3 billion rupees in the same period a year ago on the back of a one-time gain. Analysts had expected a net profit of 8.7 billion rupees, according to Thomson Reuters Starmine Estimates.

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