rediff.com

NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  

Rediff News  All News 
Rediff.com  » Business » HUL Q3 profit beats forecast as shoppers buy more

HUL Q3 profit beats forecast as shoppers buy more

January 19, 2015 16:05 IST

Hindustan Unilever Ltd, the Indian unit of Anglo-Dutch consumer group Unilever Plc, reported an 18 per cent rise in quarterly profit, beating estimates, helped by a revival in consumer spending and lower raw material costs.  

The company, Asia's largest consumer goods maker by market capitalisation, has been hurt in the last few quarters by weaker consumer demand in Asia's third-largest economy that grew less than 5 per cent in the past two fiscal years.  

The company said on Monday its domestic consumer business grew at 8 per cent during the quarter.  

A sharp easing of inflation since September, an improvement in consumer sentiment on hopes of a revival in economic growth and a fall in commodity prices have pushed the Hindustan Unilever stock up nearly 25 per cent since October.  

Hindustan Unilever's standalone net profit for the three months to December 31 rose to Rs 1,252 crore or Rs 12.52 billion  ($202.85 million), up from the Rs 1,062 crore or Rs 10.62 billion a year earlier, the company said in a statement on Monday.  

Analysts were expecting the maker of Dove soap, Sunsilk shampoo and Lipton tea to make  Rs 1,081 crore or Rs 10.81 billion in profit, according to Thomson Reuters data.

 

 

Nivedita Bhattacharjee
Source:
© Copyright 2018 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.