HUL Q1 net up 3.68% at Rs 1,056.85 cr

FMCG major Hindustan Unilever Ltd today reported 3.68 per cent increase in standalone net profit at Rs 1,056.85 crore (Rs 10.56 billion) for the first quarter ended June 30, 2014-15.

It had posted net profit of Rs 1,019.25 crore (Rs 10.19 billion in the April -June quarter of 2013-14 on account of exceptional gain of Rs 106.25 crore (Rs 1.06 billion), the company said in a BSE filing.

HUL's net sales climbed to Rs 7,570.78 crore (Rs 75.70 billion) in Q1, 2014-15, from Rs 6687.49 crore (Rs 66.87 billion) 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."

Overall expenses in Q1 stood at Rs 6,466.52 crore (Rs 64.66 billion), as against Rs 5,789.88 crore (Rs 57.89 billion) in the year-ago period.

The HUL scrip was trading at Rs 682, up 3.02 per cent, on the BSE.