Hindustan Unilever shares gain nearly 4% after rise in quarterly profit

Jul 29 2014, 10:29 IST
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SummaryHindustan Unilever settled higher after reporting 3.68 per cent increase in net profit...

Shares of FMCG major Hindustan Unilever Ltd today settled nearly 4 per cent higher after the company reported 3.68 per cent increase in standalone net profit for the first quarter ended June 30, 2014-15.

Hindustan Unilever's scrip ended the day with a gain of 3.69 per cent at Rs 686.45 on the BSE. During the day, it surged 4.38 per cent to Rs 691.05.

At the NSE, it settled at Rs 686, up 3.35 per cent.

The stock was the best performer among the blue-chips on both Sensex and Nifty.

In terms of volume, 7.80 lakh shares of the company changed hands at the BSE, while over 38 lakh shares were traded at the NSE during the day.

Hindustan Unilever Ltd today reported 3.68 per cent increase in standalone net profit at Rs 1,056.85 crore for the first quarter ended June 30, 2014-15.

It had posted net profit of Rs 1,019.25 crore in the April -June quarter of 2013-14 on account of exceptional gain of Rs 106.25 crore, the company said in a BSE filing.

HUL's net sales climbed to Rs 7,570.78 crore in Q1, 2014-15, from Rs 6687.49 crore a year ago, up 13.20 per cent.

HUL Chairman Harish Manwani said: "We continue to grow ahead of our markets and have delivered another quarter of strong top and bottom-line performance.

"While we are seeing headwinds on market growth, consumer spending and inflation, we remain focused on managing the business for long term competitive and profitable growth and implementing our strategy with even greater rigour."

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