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Hindustan Unilever profit rises 18% on one-time gains

Hindustan Unilever profit rises 18% on one-time gains
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First Published: Thu, Jul 28 2011. 03 16 PM IST
Updated: Thu, Jul 28 2011. 03 16 PM IST
Mumbai: Hindustan Unilever Ltd, India’s largest consumer packaged goods company, recorded an 18% increase in net profit to Rs 627 crore for the quarter ended 30 June on one-time gains.
The maker of Surf detergents and Lux soaps posted a net profit of Rs 533 crore in the year-earlier quarter. Exceptional gains rose more than threefold to Rs 58 crore on account of property sales from Rs 18 crore a year ago.
The Anglo Dutch Unilever Plc’s Indian subsidiary recorded a revenue increase of 15% to Rs 5,504 crore from Rs 4,794 crore. A Mint poll of seven brokerage houses had estimated revenue would increase at most by 14.7%.
The consumer business was driven by strong 8.3% underlying volume growth, with double-digit growth across segments. Price-driven growth was more than 6%.
“This is the fourth consecutive quarter of double-digit growth led by a combination of innovations, market development and relentless focus on execution. In a challenging business environment, we are managing our business dynamically to ensure that we remain competitive and cost efficient,” Harish Manwani, chairman, HUL, said in a release.
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First Published: Thu, Jul 28 2011. 03 16 PM IST