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The Mint Report for 25 October 2010

The Mint Report for 25 October 2010
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First Published: Mon, Oct 25 2010. 10 26 PM IST
Updated: Mon, Oct 25 2010. 10 26 PM IST
India’s trade deficit has fallen to a six-month low. The deficit for September was a mere nine point one two billion dollars. In August it stood at more than $13 billion. India’s international trade grew during September on a year-on-year basis. The country’s exports climbed 23.2% to about $18 billion. Imports meanwhile went up 26.1% to more than $27 billion. Commerce minister Anand Sharma said India’s exports were on track to grow 15% in the current fiscal and cross the $200 billion mark. The country’s exports have been growing since October last, while imports have surged since November.
And India’s biggest FMCG company has beaten expectations with its quarterly numbers. HUL reported a 32% rise in net profit to Rs 566 crore. And net sales went up ten point seven percent to four thousand six hundred eighty-one crores.
HUL’s numbers were helped along by a one-time gain of Rs 40 crore. The company’s numbers have been under pressure because of a price war with rivals like Procter and Gamble and Godrej Consumer Products.
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First Published: Mon, Oct 25 2010. 10 26 PM IST