India's Hindustan Unilever's quarterly profits up 18%
HINDUSTAN UNILEVER (HUL) said on Thursday (July 28) that its quarterly net profits leapt by a forecast-beating 18 per cent as sales of beverages, soap and other goods boomed.
The company, 52 per cent owned by Anglo-Dutch group Unilever, said that the net profits for the three months to June climbed to Rs 6.27 billion (£85.13 mn) from Rs 5.33billion (£74 mn) in the same period a year earlier.
HUL, India's biggest consumer goods firm by revenues, said that the sales in the fiscal first quarter rose 15 per cent.
The firm's home and personal care business rose by 15.4 per cent year-on-year, reflecting buoyant growth in sales of soap and personal products.
"The food business grew by 14.9 per cent on strong volumes in beverages, packaged foods," the company said.
HUL chairman Harish Manwani said that the performance marked the fourth straight quarter of double-digit profit growth.
He however, added that the business environment remained challenging with high commodity prices.
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