Hindustan Unilever Q3 net up 34%, beats forecast

Hindustan Unilever Q3 net up 34%, beats forecast

Reuters

Mumbai: India’s biggest consumer goods maker, Hindustan Unilever Ltd, on Friday posted a 34% rise in quarterly profit, beating forecasts, as strong sales and price hikes offset high raw material costs.

The unit of Anglo-Dutch Unilever Plc said net profit rose to Rs5.47 billion ($109 million) in its third quarter ended 30 September from Rs4.08 billion reported a year earlier

Total income rose to Rs41.11 billion from Rs33.95 billion.

Reuters Estimates had forecast net profit of Rs4.81 billion on revenue of Rs40.31 billion.

The company said it made a profit on sale of property of Rs1.31 billion.

Shares in Hindustan Unilever, which has a market value of nearly $10.8 billion, rose 22% in the September quarter, compared to a 4.5% fall on the main share index.

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